Seattle-based Starbucks said it has agreed to sell its organic juice brand, Evolution Fresh, to Bolthouse Farms for an undisclosed amount. Bolthouse offers a variety of functionally focused refrigerated beverages and 2-ounce Bolts, as well as salad dressings, and is a large supplier of carrots to retailers.
Starbucks said it wants to focus on its core coffee-shop business. “Evolution Fresh has grown steadily over the last several years as a result of our partners’ hard work and commitment to the brand,” Hans Melotte, Starbucks EVP of global channel development, said in a statement. “We feel there is 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.”
Terms of the deal were not disclosed. The transaction is expected to close later this year.
Starbucks acquired Evolution Fresh, a line of organic, cold-pressed juices sold at retail and at Starbucks locations, for $30 million. It was one of many deals Starbucks made to expand its line of beverages, juices and food items. That includes Teavana, the tea retail brand Starbucks operated but shuttered in 2018, opting to fold the brand name into its coffee shops.
Bolthouse was owned for seven years by Campbell Soup Co. before Campbell's sold the business to an affiliate of Los Angeles-based private-equity firm Butterfly Equity in 2019.
"Evolution Fresh is a natural extension of the Bolthouse Farms portfolio, and we look forward to welcoming the team," Bolthouse Chairman and CEO Jeff Dunn said in a statement. "At Bolthouse Farms, with the support of Butterfly, we strive to ensure that the acres we grow and beverages we make have a positive impact on the land, on the people who make up our company, and on all people. By bringing Evolution Fresh into our portfolio, we will extend our spirit of ingenuity and innovation, sharing resources and passion for high-quality, nutrient-dense juices to pioneer solutions for today’s food system."
A version of this story originally appeared on WGB sister site RestaurantBusinessOnline.com.