Starbucks Adds Teavana to Emerging Brands

Starbucks Coffee Company announces that the company’s planned acquisition of Teavana Holdings, Inc. (TEA) has formally closed, making Teavana a wholly-owned subsidiary of Starbucks and the newest addition to Starbucks emerging brands portfolio, which also includes Evolution Fresh, La Boulange, Seattle’s Best Coffee and Tazo.

 

Starbucks acquired Teavana for an aggregate acquisition price of approximately $620 million in cash and is expecting the acquisition to be accretive to earnings by approximately $0.01 per share in fiscal year 2013, based upon the previously announced earnings targets. Teavana public stockholders of record will receive $15.50 per share in cash.

 

Details about the future of Teavana and tea at Starbucks is posted on a blog by Jeff Hansberry, president, Channel Development and Emerging Brands.