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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.

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