Starbucks acquires juice business for $30M
Thursday, November 10, 2011
SEATTLE (AP) -- Starbucks Corp. says it has bought juice company Evolution Fresh Inc. for $30 million and plans to open new stores focused on juice.
The coffee giant said Thursday that it will reinvent the $1.6 billion super-premium juice segment with its acquisition of San Bernadino, Calif.-based Evolution.
Starbucks hopes to put more emphasis on health and wellness in its business overall. It will sell Evolution products in its cafes and plans to distribute Evolution's products to other retailers.
Starbucks plans to introduce the new health and wellness stores next year to showcase the juice business.