Starbucks acquisition of Evolution Fresh
In 2011, Starbucks Corporation (NASDAQ:SBUX) acquired Evolution Fresh for $30 million as part of its initiative to expand its health and wellness business. The company uses high-pressure pasteurization (HPP) to keep the natural flavor, nutrients, and vitamins of raw fresh fruits and vegetables as much as possible.
According to Chris Bruzzo, senior vice president, channel brand management and general manager at Evolution Fresh, the company will be selling 12 of its most popular juices at Whole Foods Market, Inc. (NASDAQ:WFM) plus two exclusive juices (Organic Ruby Roots and Organic Sweet Burn).
Starbucks to launch wholesome snacks
“We’ve received enthusiastic customer support in every market where we’ve introduced Evolution Fresh juice, and have been working toward our goal of national distribution since the acquisition,” said Bruzzo.
Starbucks Corporation (NASDAQ:SBUX) managed to steadily increase the distribution of Evolution Fresh since its acquisition, and its growth target for the brand is to make the cold pressed juices available to approximately 8,000 Starbucks stores and grocery locations by the end of 2013. By selling Evolution Fresh at Whole Foods Market, Inc. (NASDAQ:WFM), the company met its target of making the juice available to consumers nationwide.
Retail price of Evolution fresh juice
According to Starbucks Corporation (NASDAQ:SBUX), the suggested retail price of its Evolution Fresh juices are in the range of $2.99 to $6.99 (15.2 fl. oz). The company also added kale in its green vegetable juices brand portfolio as part of its commitment to provide nutrition to consumers.
The Evolution Harvest snacks such as nutritious bars, trail mixes and freeze-dried fruits will be available at all Starbucks stores in the United States this fall. Starbucks Corporation (NASDAQ:SBUX) said the Evolution Harvest freeze dried fruits will be available by the end of the month and the snack bar will arrive at major metro markets early in September. Consumers will be able to buy its trail mixes in October.
Last month, Starbucks Corporation (NASDAQ:SBUX) also entered the Greek yogurt market through its partnership with Danon Foods SA, maker of Activia, Oikos, and Danon brand yogurts. The world’s largest coffee company will start selling yogurts at Starbucks coffee shops next year and in grocery stores in 2015.