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Old 11-16-2012, 08:27 AM
 
32,032 posts, read 36,823,708 times
Reputation: 13311

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Big news for an Atlanta based company. I've always been a coffee nut, but in recent years we've learned to enjoy fine teas, too. It's a very civilized thing to take a tea break in the afternoon.

(A good day for Teavana's founder as well).


Quote:
Starbucks Corp. announced Wednesday it will buy Atlanta-based Teavana Holdings Inc. (NYSE: TEA) for $620 million.

The announcement came two hours after Atlanta Business Chronicle first reported the deal was expected.

The all-cash deal, expected to be completed this year, would bring Starbucks (NASDAQ: SBUX) into the $40 billion global tea market, giving the global coffee brand more than 300 retail outlets.

Starbucks plans to continue to grow and extend Teavana's mall-based stores and add a high-profile neighborhood store concept that will accelerate Teavana's domestic and global footprint, the company said.

****

Teavana stockholders will receive $15.50 a share in cash in the merger, which will make Teavana a wholly-owned subsidiary of Starbucks. Teavana CEO Andrew Mack is expected to have a $333.4 million pay day.

More...Starbucks acquires Teavana for $620M - Atlanta Business Chronicle
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Old 11-16-2012, 09:14 AM
 
Location: Atlanta
738 posts, read 1,378,527 times
Reputation: 332
Quote:
Starbucks plans to continue to grow and extend Teavana's mall-based stores and add a high-profile neighborhood store concept that will accelerate Teavana's domestic and global footprint, the company said.
Interesting. I wonder if Teavana will be on every streetcorner now too?
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Old 11-17-2012, 10:59 AM
 
472 posts, read 810,289 times
Reputation: 136
I had to laugh when I heard about the creepy salesmen. Good for Starbucks, tea is a healthy alternative to coffee. Personally, I'll be sticking to my cup of morning Joe, but good move for both companies.
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Old 11-19-2012, 03:10 PM
 
225 posts, read 715,399 times
Reputation: 75
I hope their tea suddenly doesn't start turning up with a slightly burnt flavor.....
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Old 11-20-2012, 09:47 AM
JPD
 
12,138 posts, read 18,307,196 times
Reputation: 8004
They're gonna lose money on this deal.
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Old 11-20-2012, 11:21 AM
 
32,032 posts, read 36,823,708 times
Reputation: 13311
Some Starbucks are also going to start serving alcohol.

I guess they are aiming to be your one stop beverage location.
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Old 11-22-2012, 01:35 PM
 
Location: Atlanta & NYC
6,616 posts, read 13,840,488 times
Reputation: 6664
Starbucks probably knows their coffee tastes like absolute crap so they're trying to move into the tea industry.
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Old 11-23-2012, 10:08 AM
 
Location: 30080
2,390 posts, read 4,407,959 times
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Quote:
Originally Posted by ja1myn View Post
Starbucks probably knows their coffee tastes like absolute crap so they're trying to move into the tea industry.
Who cares when all of your locations are slammed all day everyday year round? I'm sure they don't.
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Old 11-23-2012, 10:31 AM
 
32,032 posts, read 36,823,708 times
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Quote:
Originally Posted by brownhornet View Post
Who cares when all of your locations are slammed all day everyday year round? I'm sure they don't.
I think people come to Starbucks just to hang out where there are other people. Outside of the malls there aren't that many places to do that in the ATL.
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Old 11-23-2012, 06:32 PM
 
1,709 posts, read 3,428,245 times
Reputation: 1343
Quote:
Originally Posted by arjay57 View Post
I think people come to Starbucks just to hang out where there are other people. Outside of the malls there aren't that many places to do that in the ATL.
People have lots of choices for their coffee.

People have lots of choices of places to hang out.

Also, this is not a done deal.

Last edited by ATL Golfer; 11-23-2012 at 07:02 PM..
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