Starbucks Acquires Evolution Fresh to Establish National Healthfood Brand
Starbucks Coffee Company announced the acquisition of Evolution Fresh. Starbucks has seen success with expanded healthier menu items to deliver the nutritious, on-the-go options consumers are seeking.
With this acquisition, Starbucks will reinvent the $1.6 billion super-premium juice segment, its significant next step in entering the larger $50 billion Health and Wellness sector.
With Evolution Fresh, Starbucks will bring a unique, premium juice product to the marketplace through the creation of a differentiated brand and experience, similar to what Starbucks pioneered 40 years ago for coffee consumers.
“Our intent is to build a national Health and Wellness brand leveraging our scale, resources and premium product expertise. Bringing Evolution Fresh into the Starbucks family marks an important step forward in this pursuit,” said Howard Schultz, Starbucks chairman, president and ceo.
“Over the last year-and-a-half we have looked comprehensively at possible opportunities and chose Evolution Fresh because it stood above anything else in terms of premium quality, nutrition and potential for growth.”
“The acquisition of Evolution Fresh supports our growth strategy to innovate with new products, enter new categories, and expand into new channels of distribution,” says Jeff Hansberry, president, channel development for Starbucks.
With this acquisition, Starbucks will reinvent the $1.6 billion super-premium juice segment, its significant next step in entering the larger $50 billion Health and Wellness sector.
With Evolution Fresh, Starbucks will bring a unique, premium juice product to the marketplace through the creation of a differentiated brand and experience, similar to what Starbucks pioneered 40 years ago for coffee consumers.
“Our intent is to build a national Health and Wellness brand leveraging our scale, resources and premium product expertise. Bringing Evolution Fresh into the Starbucks family marks an important step forward in this pursuit,” said Howard Schultz, Starbucks chairman, president and ceo.
“Over the last year-and-a-half we have looked comprehensively at possible opportunities and chose Evolution Fresh because it stood above anything else in terms of premium quality, nutrition and potential for growth.”
“The acquisition of Evolution Fresh supports our growth strategy to innovate with new products, enter new categories, and expand into new channels of distribution,” says Jeff Hansberry, president, channel development for Starbucks.