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Starbucks and Bolthouse Farms have entered into a definitive agreement for Bolthouse Farms to acquire brand and business of Evolution Fresh.
Evolution Fresh is a producer of cold pressed juice products which was owned by Starbucks since the 2010s. The transaction will allow Bolthouse Farms to expand its beverage portfolio with cold pressed premium juices, while Starbucks will focus on growing the core Starbucks business.
Vice president of Starbucks’ global channel development, Hans Melotte, said “Evolution Fresh has grown steadily over the last several years as a result of our partners’ hard work and commitment to the brand. We feel there is a great runway and opportunity to take Evolution Fresh to the next level, and Bolthouse Farms’ considerable experience and success in the premium beverage category will allow the brand to continue growing”.
Starbucks will continue to sell Evolution Fresh products in the US after the transaction closure.
Employees at Evolution Fresh will be transferred to Bolthouse upon the closure of the transaction which is expected to close later this year.
Source: Starbucks
