Starbucks Launching Global Juice Bars, Acquires Evolution Fresh
Remember how we reported that Starbucks was looking to get into the juice business? Well, it's official: Starbucks is now in the juice business. Yesterday, they acquired Evolution Fresh Juice for $30 million.
Evolution Fresh is mostly distributed in California grocery stores like Whole Foods Market and Mollie Stone's -- but that's going to change very soon.
Next stop -- Starbucks juice bars.
The Los Angeles Times reports:
Starbucks Chief Executive Howard Schultz said Thursday that acquiring Evolution Fresh, which offers juices such as tangerine and organic ginger limeade, is an important step toward entering the $1.6-billion premium juice business and the $50-billion health foods market."Our intention is, over time, we would have a national footprint of juice stores positioned for health and wellness," Schultz said in a conference call.
Looks like our global juice prediction is taking hold!
What do you think?