Starbucks Coffee Company has completed its planned acquisition of Atlanta-based Teavana Holdings, Inc., making Teavana a wholly-owned subsidiary of Starbucks.
“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,” Starbucks said in a statement released Monday.
Teavana, which was founded in 1997, is the newest addition to Starbucks emerging brands portfolio that includes Evolution Fresh, La Boulange, Seattle’s Best Coffee and Tazo.
Nick Brown
Nick Brown is the editor of Daily Coffee News by Roast Magazine.
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