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Starbucks completes acquisition of Teavana

DBR Staff Writer Published 02 January 2013

Coffee giant Starbucks has completed the acquisition of tea company Teavana Holdings for $620m.

With this acquisition, Teavana becomes a wholly-owned subsidiary of Starbucks, besides Evolution Fresh, La Boulange, Seattle's Best Coffee and Tazo.

Several new additions will be offered and some of Teavana's product line-up may change, according to Starbucks.

New Teavana stores outside of malls in neighborhoods and on urban streets will also be added.

Starbucks also plans to add tea bars to Teavana stores that will serve hand-crafted beverages for customers, which may also be served in Starbucks stores in the future.