Starbucks to acquire Teavana for $620 mln in cash - MarketWatch: ""We believe the tea category is ripe for reinvention and rapid growth. The Teavana acquisition now positions us to disrupt and lead, just as we did with espresso starting three decades ago," said Starbucks Chief Executive Howard Schultz.
Starbucks said that it sees a significant opportunity in the growing $40 billion global tea market, and plans to open Teavana stores in markets throughout North America and around the world.
The company intends to grow and extend Teavana's 300 mall-based stores, and add locations in high-profile neighborhoods.
The deal comes as Starbucks has been branching out from its core coffee business. Earlier this year, the company said it planned to open its first standalone Tazo Tea Store in Seattle. A few months earlier, Starbucks opened its first fresh juice store, also in Seattle, through its acquisition of Evolution Fresh.
Teavana was founded in 1997 and went public in July 2011. The company specializes in selling loose-leaf teas, teapots and other tea-related products. It sells its wares out of small boutique-style stores that employ "teaologists" to sell to consumers in high-traffic locations such as malls."
'via Blog this'
Starbucks said that it sees a significant opportunity in the growing $40 billion global tea market, and plans to open Teavana stores in markets throughout North America and around the world.
The company intends to grow and extend Teavana's 300 mall-based stores, and add locations in high-profile neighborhoods.
The deal comes as Starbucks has been branching out from its core coffee business. Earlier this year, the company said it planned to open its first standalone Tazo Tea Store in Seattle. A few months earlier, Starbucks opened its first fresh juice store, also in Seattle, through its acquisition of Evolution Fresh.
Teavana was founded in 1997 and went public in July 2011. The company specializes in selling loose-leaf teas, teapots and other tea-related products. It sells its wares out of small boutique-style stores that employ "teaologists" to sell to consumers in high-traffic locations such as malls."
'via Blog this'
Posts
No comments:
Post a Comment