11 Nov '11, 8am

Starbucks buys juice maker, to spill into the health and wellness business

PORTLAND, Oregon - Starbucks hopes to do for juice what it has done for coffee. The Seattle-based company that changed the way Americans drink their morning cup said Thursday that it acquired by juice maker Evolution Fresh for US$30 million (S$38.7 million) as part of an effort to move beyond coffee. Starbucks said it plans to "reinvent" the US$1.6 billion super-premium juice segment with its purchase of Evolution, which is based in California. The company plans to open a new chain of health and wellness stores in the coming year that will carry Evolution products such as juices and simple foods. Details are still thin, but Starbucks described it as a retail model that has never been seen before. "We are not just acquiring a juice company," said Starbucks CEO Howard Schultz. "We are using this acquisition to position ourselves, in a broad way, to build a multibillion healt...

Full article: http://www.todayonline.com/Business/EDC111111-0000146/Sta...

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