Starbucks announces sale of its Evolution Fresh line of juices

By Tejaswita Tiwari  | Date: 2022-05-26

Starbucks announces sale of its Evolution Fresh line of juices

Starbucks, an American multinational chain of coffeehouses, is reportedly focusing on its coffee-drink business with sales of its Evolution Fresh juice business. It is also planning on improving its stores and relations with the café workers under Howard Schultz, interim Chief Executive.

Bolthouse Farms Inc., a farm company specializing in refrigerated beverages, said that it agreed to take over Starbucks’ Evolution Fresh line of juices, which are presently sold in Starbucks cafes and supermarkets.

However, the terms of the deal were not revealed. The acquisition is expected to be completed later this year, said Bolthouse.

The deal comes for Starbucks as Mr. Schultz heads more investment toward the coffee major’s cafes and baristas.

The longtime leader of Starbucks, Mr. Schultz, who returned in April for his third run leading the chain, said that the firm needs to handle the increasing demand in a better way, augment the café experience for customers and baristas, and increase the communication between executives and workers.

Starbucks believes that the Bolthouse Farms has the experience in the beverage industry to support the Evolution Fresh to grow fast. It also shares Starbucks’s priorities for building the brand and its employees.

In 2011, the coffee chain paid around $30 Mn to acquire Evolution Fresh when Mr. Schultz was helm of Starbucks for the second time.

According to Mr. Schultz, at that time, the deal would have placed Starbucks at a position of $1.6 billion premium juice grouping and products that target the wellness and health sector.

Starbucks opened several Fresh-branded juice bars but wound that down later after Kevin Johnson was named Starbucks’s CEO in 2017.

The firm continued to sell cold-pressed juices and bottles of Evolution Fresh organic in all Starbucks stores located in the U.S.

Source Credit - https://www.retailnews.asia/starbucks-sells-its-evolution-fresh-juice-business/

About Author

Tejaswita Tiwari     thisisourtownrichmond.co.uk

Tejaswita Tiwari

Being born in a family of readers, Tejaswita has always had a natural flair for writing, using that enthusiasm to become a full-fledged writer after earning her MBA in Marketing. Her insatiable curiosity to learn about various verticals has made her a popular research...

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