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In attempt to expand on its healthy offerings, Starbucks has acquired juice brand Evolution Fresh, Inc. in a $30 million deal.
The Starbucks Evolution Fresh purchase will make it a bigger player in the juice market as well as help the coffee brand expand to other establishments outside of its java chain—the brand plans to distribute the juice to more external grocery retailers (in addition to those that already carry Evolution juice, such as Whole Foods). In addition, Starbucks plans to open juice bars next year that will sell the Evolution Fresh brand as well as health foods, says WSJ.com.
Starbucks CEO Howard Schultz commented that the Starbucks Evolution Fresh initiative will help the chain build a “national Health & Wellness brand,” and that they chose Evolution Fresh—which was launched by Naked Juice founder Jimmy Rosenberg—because it is unparalleled in quality and nutrition.