Oriental Rise Holdings announced plans to acquire the PoDu white tea brand and assets. The company sees this move as aligned with its long-term goals to expand its white tea category into ready-to-drink products. The transaction is subject to due diligence and negotiation of a definitive agreement, but could enhance Oriental Rise’s presence in the tea market.

The proposed acquisition of the PoDu white tea brand by Oriental Rise Holdings is part of the company’s strategic plan to diversify its product offerings and reach more consumers. The deal, if completed, will leverage Oriental Rise’s resources and distribution network with PoDu’s ready-to-drink tea format to capture health-oriented trends and expand its brand presence in the market.

Read more at Yahoo Finance: Oriental Rise signs non-binding LOI to acquire PoDu white tea beverage brand