Friday, January 18, 2013

Teavana up 50% on Starbucks acquisition | Redux

Teavana up 50% on Starbucks acquisition

Fancy a Cuppa?
Fancy a Cuppa? by National Library of Ireland on The Commons
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Excerpt:

NEW YORK (CNNMoney)-- Teavana stock burned up Wednesday mid-day, increasing more than 50 %, after Starbucks revealed it would buy the Atlanta, GA. -based tea company. Starbucks (SBUX, Fortune 500) accepted obtain Teavana (TEA) for $ 620 million in an all-cash bargain. Teavana shareholders will get $ 15. 50 per share in cash once the bargain experiences. Starbucks said that it prepares to grow Teavana's brand by broadening into more neighborhoods. Teavana, which was founded in 1997, offers more than 100 kinds of loose-leaf teas in its 200 primarily mall-based locations throughout the U.S. and Mexico,. The two companies lately partnered to open a shop in the Middle East, an idea they're planning to reproduce in other countries, where tea is eaten, in the years ahead. Related: Eyeing significant markets, Starbucks opens initial India store.

Teavana up 50% on Starbucks acquisition

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