Deals
Starbucks With Teavana Moves Schultz Beyond Coffee Roots
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French pastries? Check. Cold-bottled juice? Check. Globally recognized tea? Coming soon.
Yesterday, Starbucks Corp. announced an agreement to buy Teavana Holdings Inc. for about $620 million. Teavana, the company’s biggest acquisition, is another building block in Chief Executive Officer Howard Schultz’s plan to take Starbucks well beyond its coffee roots and namesake shops. Since returning as CEO in 2008, Schultz has revived the company and is making moves to sustain revenue growth with instant coffee, energy drinks, juice, a single-serve brewer and food to sell in its shops and in grocery stores.