Starbucks completes Teavana acquisition

Starbucks has completed its $620 million acquisition of the Atlanta tea retailer Teavana, the company announced Monday, and plans to open more stores outside of malls.

In a blog post, Jeff Hansberry, the president of Channel Development and Emerging Brands for Starbucks, said the company will be putting Teavana stores in neighborhoods and on urban streets. Starbucks also intends to add tea bars to the stores, and Hansberry said those beverages may be available at Starbucks stores in the future.

Teavana’s products may change, Hansberry said, but the experience will remain largely the same.

“Together, Starbucks and Teavana are embarking on the next chapter of a journey that we believe will reinvent the way the world enjoys tea, just as Starbucks did decades ago for coffee,” Hansberry wrote.

Teavana stockholders will receive $15.50 a share. The company was founded in 1997 by Andrew and Nancy Mack, who stand to collect more than $300 million in the deal.

About the Author

Would Okefenokee mining affect a key aquifer? Likely yes, new study finds.

UGA researchers have found the Okefenokee is more closely tied to the vast aquifer beneath it, suggesting changes in or around the swamp could affect groundwater supplies.

Looming tariff deadline could bring clarity and more costs for Georgians

As President Donald Trump's tariff deadline looms, Georgia businesses may have more clarity on the future. But it's unclear how the deals will affect the broader economy.

Athens film studio wants to reboot as a data center

Over the past year, empty or underused soundstages in Georgia have had to pivot. Athens Studios' plans are different.

The Latest

Credit: TNS

That low car payment could cost you more in the long run. A lot more.

OPINION

Nissan’s e-Power: An EV driving experience, fueled by gas

OPINION

December car sales are good but not magic

Featured

Credit: Bita Honarvar

Trump administration slashes Georgia migrant farmworker H-2A wages

The state’s agriculture industry relies on the H-2A farmworker visa program. A federal lawsuit is challenging the change.

Brian Kemp’s lame-duck dilemma: Swing big or play it safe?

The two-term Georgia governor enters his last legislative session next month.

Fate of Confederate souvenir store in limbo amid legal battle over estate

The future of Wildman’s Civil War Surplus Store has long been a topic of debate in Kennesaw, especially since proprietor Dent Myers’ death nearly four years ago.