Categorized | Business news, Food & Dining, National, Retail News

Starbucks to buy Teavana

We enjoy a good cuppa tea at Biz Buzz and we’ve been Teavana fans for years. Hope this buyout brings Teavana’s products to Tupelo. 

From Reuters:

Starbucks Corp (SBUX.O) plans to acquire Teavana Holdings Inc (TEA.N) for $620 million in cash, Starbucks said on Wednesday.

Shares of Teavana, which sells tea, rose 28 percent to $12.97 in afternoon trade on the New York Stock Exchange before being halted.

News of a deal was first reported by the Atlanta Business Chronicle.

Starbucks said it will pay $15.50 for each Teavana share. Starbucks shares fell 1.6 percent to $49.51 on the Nasdaq.

Today’s @Starbucks tweet sent out around 2 p.m.

If coffee is love, then tea is kindness. Welcome, @TEAVANA, to the Starbucks family. We’re honored. #coffee #tea http://sbux.co/W7UPcy

Tweet sent out around 2:15 from @Teavana:

It’s a big day for us today, we’re now joining the Starbucks family so that we can bring the perfect cup of #tea to even more people.

About Carlie Kollath Wells

Carlie Kollath Wells | Business | BizBuzz.djournal.com | Northeast Mississippi Daily Journal | DJournal.com

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