Travel & Entertainment M&A » By The Online Investor Staff, updated Sat., Aug. 17, 10:58 AM
Recent mergers and acquisitions in the Travel & Entertainment M&A category.
Slide #76. Starbucks Coffee Company — Teavana Holdings, Inc.
| Acquirer: |
Starbucks Coffee Company (SBUX) |
| Acquiree: |
Teavana Holdings, Inc. (TEA) |
| Details: |
Furthering its commitment to innovate and transform the tea industry and enhance the consumer tea experience in the U.S. and internationally, Starbucks Coffee Company (NASDAQ:SBUX) has agreed to acquire Teavana Holdings, Inc. (NYSE:TEA) in an all-cash acquisition. Starbucks has entered into a merger agreement with Teavana to acquire Teavana for an aggregate acquisition price of approximately $620 million in cash and expects the acquisition to be accretive to earnings by approximately $0.01 per share in fiscal year 2013, based off of the previously announced earnings targets. Teavana stockholders of record will receive $15.50 per share in cash in the merger which will result in Teavana becoming a wholly-owned subsidiary of Starbucks. Stockholders of Teavana holding approximately 70% of the outstanding shares of common stock have approved the merger agreement by written consent, and the closing is expected to occur by year end, following receipt of regulatory clearances. |
Starbucks is a roaster, marketer and retailer of coffee. Co. purchases and roasts coffees that it sells, along with coffee, tea and other beverages and a variety of food items, through Co.-operated stores. Co. also sells a variety of coffee and tea products and licenses its trademarks via other channels such as licensed stores, grocery and foodservice accounts. In addition to its Starbucks Coffee brand, Co. sells goods and services under the following brands: Teavana, Seattle's Best Coffee, Evolution Fresh, La Boulange, Ethos, Starbucks Reserve and Princi. Co. has four reportable operating segments: Americas, China / Asia Pacific, Europe, Middle East, and Africa, and Channel Development.
Starbucks SEC Filing Email Alerts Service
Open the SBUX Page at The Online Investor »
Starbucks is a roaster, marketer and retailer of coffee. Co. purchases and roasts coffees that it sells, along with coffee, tea and other beverages and a variety of food items, through Co.-operated stores. Co. also sells a variety of coffee and tea products and licenses its trademarks via other channels such as licensed stores, grocery and foodservice accounts. In addition to its Starbucks Coffee brand, Co. sells goods and services under the following brands: Teavana, Seattle's Best Coffee, Evolution Fresh, La Boulange, Ethos, Starbucks Reserve and Princi. Co. has four reportable operating segments: Americas, China / Asia Pacific, Europe, Middle East, and Africa, and Channel Development.
Starbucks SEC Filing Email Alerts Service
Open the TEA Page at The Online Investor »
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