Starbuck Buys Teavana
Starbucks Corp. completed its acquisition of Atlanta-based Teavana Holdings Inc. this week, “promising to reinvent the way the world enjoys tea,” wrote Jeff Hansberry, Starbucks president of channel development and emerging brands, in a blog posted Monday.
The $620 million cash transaction was first revealed in November. The move makes the more than 300-unit Teavana retail chain a wholly-owned subsidiary of Seattle-based Starbucks.
Hansberry wrote that while some of Teavana’s product lineups may change, “most of the Teavana experience will stay the same and several new additions will be offered.” - Restaurant News
Labels: Paseo Nuevo, Santa Barbara, Starbucks, Teavana
