Seattle-based Starbucks Coffee Co. announced the formal closure of its acquisition of Atlanta-based Teavana Holdings Inc. on Dec. 31, 2012, making the brand a wholly owned subsidiary of Starbucks and the newest member of its emerging brands portfolio.
Starbucks acquired Teavana for an aggregate acquisition price of approximately $620 million in cash and is expecting the acquisition to be accretive to earnings by approximately $0.01 per share in fiscal year 2013, based upon the previously announced earnings targets. Teavana public stockholders of record will receive $15.50 per share in cash.