Starbucks announced that it will sell fruit juice brands and focus on coffee beverage business
When it comes to Starbucks, the deepest impression of the brand is latte, cappuccino and other milk coffee. However, few people may have noticed that Starbucks also has a juice brand, Evolution Fresh. Now Starbucks has announced the sale of the juice brand and is focusing on the growth of its coffee business.
On the same day, Starbucks announced a final agreement with Bolthouse Farms to acquire Starbucks' juice brand (Evolution Fresh) and its business, according to a report in the Wall Street Journal (The Wall Street Journal) on May 24. Bolthouse said it would retain nearly 300 employees of the juice brand and said it expected to complete it later this year, but the terms of the deal had not been disclosed. Starbucks said the financial impact of the deal was not expected to be significant.
It is reported that the Bolthouse brand currently accounts for 1/4 of sales in the US refrigerated beverage industry. As of last month, Evolution Fresh brands sold by some retailers, with the exception of Whole Foods Market and Starbucks, accounted for only about 2 per cent of the US frozen beverage market, according to IRI.
Starbucks bought Evolution Fresh for $30 million in 2011, when Howard Schultz took the helm for the second time. At the time, Mr. Schultz said the deal would give Starbucks a place in the $1.6 billion market for premium fruit juices and health care products.
Starbucks subsequently opened several Evolution Fresh-branded juice bars, but after Kevin Kevin Johnson became chief executive of Starbucks in 2017, the Evolution Fresh juice business was left out in the cold, selling bottled Evolution Fresh organic cold-pressed juices in Starbucks stores in the United States.
When Kevin Kevin Johnson stepped down as chief executive in 2022, Howard Schultz returned to Starbucks and took over Johnson's baton.
Since then, Schultz has pushed Starbucks to focus on improving its US coffee business: in April, it cancelled its multibillion-dollar share buyback program and invested more money in its US stores and its employees. On May 23, Starbucks announced that it would permanently withdraw from the Russian market, close more than 130 stores and pay about six months' wages to its employees in Russia.
The unionization activities of Starbucks stores in the United States are becoming more and more active, and more and more stores and partners want to get better benefits. Evolution Fresh, as a high-end juice brand in Starbucks, which does not have much to do with coffee, was sold by Starbucks to Bolthouse, which specializes in fruit juice drinks in the United States. Let Starbucks better build new bridges with restless employees and inject new vitality into its stores.
Bolthouse, which took over Evolution Fresh, was excited about the acquisition, and a spokesman for Bolthouse said he appreciated the brand and saw its untapped potential in the high-end beverage category, according to Business News.
Photo Source: Internet
For more information about coffee beans, please follow the coffee workshop (Wechat official account cafe_style) and exchange professional coffee knowledge. Please add Wechat account kaixinguoguo0925.
Important Notice :
前街咖啡 FrontStreet Coffee has moved to new addredd:
FrontStreet Coffee Address: 315,Donghua East Road,GuangZhou
Tel:020 38364473
- Prev
The number one online celebrity coffee shop in Shanghai has been filed for investigation because of the use of out-of-date raw materials.
Shanghai embarked on the road of returning to work and production. I saw a barista I hadn't seen for a long time in the cafe and chatted about the troubles of this period of time. Even the troubles became lucky at this moment. However, unexpectedly, another coffee shop was placed on file for investigation. According to the Shanghai Municipal Bureau of Market Supervision and Administration, in May,
- Next
Espresso is no longer "drink", but eat!
When friends want to pick themselves up, they always think of the option of coffee. However, in the eyes of coffee people, drinking coffee is not so refreshing as spilling coffee is more refreshing. Coffee people also have such a worry, every coffee man's wardrobe, there are one or two clothes stained with coffee stains. The above coffee people
Related
- How to make coffee without filter paper? How to make coffee easily at home?
- A bowl of snail powder made by a famous milk tea grandmother sells for 55 yuan?! Shop owner: There is a misunderstanding
- Less and less?! Many Costa stores quietly closed!
- The difference between American coffee with milk and no milk! What ratio of coffee beans and parameters are the most suitable for making Italian American coffee?
- How did civet poop coffee come from? What is the difference between it and Mantelin? Are Indonesia's three top coffees cat poop coffee really cat poop?
- What is the difference between the taste parameters of espresso and hand-brewed coffee? Is it better to make coffee by hand or American coffee in black coffee?
- Is Yunnan small grain Arabica or Robsta? Does Arabica coffee in Yunnan, China, refer to Katim or Iron Picka?
- Bought it for a day?! Lucky launched the new "Good Persimmon Double Fruit Tea"
- The paper bag is damaged in rainy days and knocked over takeout! Starbucks: It is urgently optimizing packaging
- The sum of the details you need to pay attention to when blending Italian latte and flowers! What do the flow rate and flow distance when making coffee flower patterns?