- Bolthouse Farms has signed a definitive agreement to acquire the Evolution Fresh brand and business from Starbucks Corp (NASDAQ:SBUX) for an undisclosed amount.
- Evolution Fresh is a producer of primarily organic, cold-pressed, premium juice products.
- Bolthouse Farms, a portfolio company of private equity firm Butterfly, aligns powerhouse juice brands to propel Evolution Fresh forward. Starbucks intends to focus efforts on the growth of its core business.
- Bolthouse Farms will expand its beverage offerings from nutrient-dense, plant-powered juices and smoothies to include a full lineup of primarily organic cold-pressed, premium juices through this acquisition.
- Starbucks stores in the U.S. will continue to sell Evolution Fresh products.
- Evolution’s employees will transition to Bolthouse Farms upon the close of the transaction, which is expected to occur later this year.
- Price Action: SBUX shares are trading lower by 0.11% at $72.64 in premarket on the last check Wednesday.
- Photo via Wikimedia Commons
