Starbucks to Acquire Teavana
November 15, 2012
Seattle-based Starbucks Corp. has agreed to acquire Atlanta-based Teavana Holdings Inc. Starbucks plans to continue to grow and extend Teavana’s 300 mall-based stores, as well as add a neighborhood store concept that will accelerate Teavana’s domestic and global footprint. Teavana recently opened its first store in the Middle East in partnership with Starbucks’ existing joint-venture partner Alshaya, and has plans to enter new tea markets around the world in the years ahead. The acquisition of Teavana is part of Starbucks’ continued strategic initiative to expand its tea business, including its Tazo brand.