Starbucks Divests This Cold-Pressed Juice Brand - What's The Focus Now - Starbucks (NASDAQ:SBUX)

Bolthouse Farms has signed a definitive agreement to acquire the Evolution Fresh brand and business from Starbucks Corp SBUX for an undisclosed amount.
Evolution Fresh is a producer of primarily organic, cold-pressed, premium juice products.
Bolthouse Farms, a portfolio company of private equity firm Butterfly, aligns powerhouse juice brands to propel Evolution Fresh forward. Starbucks intends to focus efforts on the growth of its core business.
Bolthouse Farms will expand its beverage offerings from nutrient-dense, plant-powered juices and smoothies to include a full lineup of primarily organic cold-pressed, premium juices through this acquisition.
Starbucks stores in the U.S. will continue to sell Evolution Fresh products.
Evolution’s employees will transition to Bolthouse Farms upon the close of the transaction, which is expected to occur later this year.
Price Action: SBUX shares are trading lower by 0.11% at $72.64 in premarket on the last check Wednesday.
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Starbucks Divests This Cold-Pressed Juice Brand - What's The Focus Now