Starbucks Acquires Evolution Fresh Inc for $30 Million
In an attempt to expand their offerings beyond coffee and tea, Starbucks has purchased San Bernardino, CA based Evolution Fresh Inc.
The purchase price was $30 million. Starbucks plans to open a new chain of wellness stores that will focus on juices and simple foods. “We are not just acquiring a juice company,” said Starbucks CEO Howard Schultz. “We are using this acquisition to position ourselves, in a broad way, to build a multibillion health and wellness business over time.”
Starbucks has not released a detailed plan at this time as to how many stores they plan to open and exactly when and where they plan to roll the first one out.
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