International Tea Co. Stores
- International Tea Co. Stores
Infobox Defunct company
company_name = International Tea Co. Stores
company_
slogan =
company_type =
fate = Acquired
Predecessor =
successor = Somerfield
foundation = 1878
defunct = 1994
location = London, UK
industry = Retail
products = Groceries
key_people =
num_employees =
parent =
subsid =
International Tea Co. Stores were a leading chain of grocers based in London. It was a constituent of the FT30 index of leading companies listed on the London Stock Exchange.
History
The business was founded in 1878 by Hudson Kearly (later Viscount Devonport) and G.A. Tonge as the "International Tea Co." with the objective of selling tea direct to consumers rather than through wholesalers.[ [http://www.internationalstores.co.uk/ International Tea history] ] ]Their main blenders were Ridgeways. [ [http://www.competition-commission.org.uk/rep_pub/reports/1950_1959/fulltext/019c05.pdf Competition Commission report] ]
Soon most towns in the South of England had their own International Tea Co. store.
International Tea Co. Stores fell out of the FT30 index in 1947 to conform with market developments at the time. [ [http://www.ft.com/cms/78c12166-0773-11db-9067-0000779e2340.html FT.com] ]
Demise of the business
The company was subsequently rebranded "International Stores" [ [http://www.francisfrith.com/pageloader.asp?page=/shop/books/bookcontent.asp&isbn=1-85937-331-3 England in the 1880s] ] and was acquired by BAT Industries in 1972. [ [http://www.competition-commission.org.uk/rep_pub/reports/1985/fulltext/182c04.pdf Competition Commission] ] In 1984 it was sold on to The Dee Corporation [ [http://cep.lse.ac.uk/seminarpapers/24-05-04%20-%20Background%20paper%20by%20Geoffrey%20Owen.pdf Corporate Strategy in UK Food Retailing] ] which became The Gateway Corporation in 1988 and then Somerfield in 1994. [ [http://www.somerfieldgroup.com/download/history/historyofsomerfield.pdf Somerfield history] ]
References
Wikimedia Foundation.
2010.
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