Starbucks buys Evolution Fresh

Nov. 10, 2011 at 7:32 PM
| License Photo

SEATTLE, Nov. 10 (UPI) -- U.S. coffee retailer Starbucks Corp. said Thursday it has acquired juice maker Evolution Fresh for $30 million in cash.

Starbucks said the deal closed Thursday, helping it break into the $1.6 billion "super-premium juice market."

In turn, the company said, the purchase would provide entrance to a larger health and wellness sector.

"Our intent is to build a national Health and Wellness brand leveraging our scale, resources and premium product expertise. Bringing Evolution Fresh into the Starbucks family marks an important step forward in this pursuit," said Starbucks President, Chairman and Chief Executive Officer Howard Schultz.

Related UPI Stories
Latest Headlines
Trending Stories
One arrested after Philadelphia college lockdown
Boehner delays House vote for new speaker
NASA releases thousands of Apollo mission photos on Flickr
Snowden: U.S. won't respond to offers to serve prison time
FDA approves new treatment for advanced lung cancer