Business & Tech
Starbucks Seals Deal With Teavana
With multiple locations in Dana Point and Laguna Niguel, the coffee giant has completed the acquisition of the tea company adding to its growing portfolio.
Starbucks Coffee Co. counts to grow by leaps and more coffee beans.
On Thursday it announced it's planned acquisition of Teavana Holdings, Inc. 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 $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.
Find out what's happening in Laguna Niguel-Dana Pointfor free with the latest updates from Patch.
Find more details about the future of Teavana and tea at Starbucks by reading a blog posted by Jeff Hansberry, president, Channel Development and Emerging Brands.
Here is a list of Dana Point and Laguna Niguel Starbucks stores.
