Starbucks (SBUX) Acquires Teavana for $620M
Starbucks said it “plans to continue to grow and extend Teavana’s already-successful 300 mall-based stores as well as add a high-profile neighborhood store concept that will accelerate Teavana’s domestic and global footprint. ” The company said it complements Starbucks’ existing Tazo brand. Starbucks stock fell 1. 65 percent to $49. 45 in late-afternoon trading. Shares of Teavana jumped over 27 percent to $12.88. “We believe the tea category is ripe for reinvention and rapid growth. The Teavana acquisition now positions us to disrupt and lead, just as we did with espresso starting three decades ago,” said Howard Schultz, Starbucks chairman, president and CEO. “Teavana’s world-class tea authority, coupled with the romance and theater of the retail experience that is the heart and soul of Starbucks heritage, will create a differentiated customer experience and business opportunity that delivers immediate value to shareholders.
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Howard Schultz
Overall Sentiment: 0.0135335
Relevance: 0.258163
| Sentiment | Quote |
|---|---|
| 0.138944 | “We believe the tea category is ripe for reinvention and rapid growth. The Teavana acquisition now positions us to disrupt and lead, just as we did with espresso starting three decades ago,” said Howard Schultz, ... |
| 0.0810073 | “We believe the tea category is ripe for reinvention and rapid growth. The Teavana acquisition now positions us to disrupt and lead, just as we did with espresso starting three decades ago,” said Howard Schultz, Starbucks chairman, president and CEO. “Teavana’s world-class tea authority, coupled with the romance and theater of the retail experience that is the heart and soul of Starbucks heritage, will create a differentiated customer experience and business opportunity that delivers immediate value to shareholders.” |
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Company: Starbucks
Overall Sentiment: 0.206164
Relevance: 0.906403
Company: Teavana
Overall Sentiment: 0.274975
Relevance: 0.719763
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Starbucks (SBUX) Acquires Teavana for $620M
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Starbucks Coffee Co. (NASDAQ: SBUX) announced that it has agreed to acquire Teavana Holdings (NYSE: TEA) for $620 million, making headway in a growing $40 billion global tea industry. Starbucks said it “plans to continue to grow and extend Teavana’s already-successful 300 mall-based stores as...
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