Additionally, to showcase Starbucks growing portfolio, and as consumers become increasingly aware of Evolution Fresh, the company plans to introduce a new health and wellness retail concept which will further redefine the super-premium juice category and experience for consumers unlike any prior existing juice retail. It will share Starbucks mission and values, be pioneered by Starbucks partners (employees), and provide a new wholesome portfolio of food and beverage offerings. The retail concept is planned for early-to-mid calendar 2012.
Starbucks acquired Evolution Fresh for $30 million in cash, and the transaction closed today. While additional financial terms of the transaction were not disclosed, Starbucks Fiscal 2012 financial targets provided on Nov. 3 in conjunction with the company’s 2011 fourth-quarter and fiscal year-end earnings, are unchanged as a result of this acquisition. Evolution Fresh is expected to operate at a modest loss in Fiscal 2012 then reach breakeven in Fiscal 2013.