Starbucks Closes Teavana Acquisition

Mon Dec 31, 2012 4:05pm EST

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SEATTLE & ATLANTA--(Business Wire)--
Starbucks Coffee Company (NASDAQ:SBUX) today announced that the company`s
planned acquisition of Teavana Holdings, Inc. (NYSE:TEA) has formally closed,
making Teavana a wholly-owned subsidiary of Starbucks and the newest addition to
Starbucks emerging brands portfolio, which also includes Evolution Fresh, La
Boulange, Seattle`s Best Coffee and Tazo. 

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. 

Find more details about the future of Teavana and tea at Starbucks by reading a
blog posted today by Jeff Hansberry, president, Channel Development and Emerging

About Starbucks Corporation

Since 1971, Starbucks Coffee Company has been committed to ethically sourcing
and roasting the highest-quality arabica coffee in the world. Today, with stores
around the globe, the company is the premier roaster and retailer of specialty
coffee in the world. Through our unwavering commitment to excellence and our
guiding principles, we bring the unique Starbucks Experience to life for every
customer through every cup. To share in the experience, please visit us in our
stores or online at 

About Teavana

Founded in 1997, the company offers new tea enthusiasts and tea connoisseurs
alike its "Heaven of Tea" retail experience where passionate and knowledgeable
"Teaologists" engage and educate them about the ritual and enjoyment of tea. The
company's mission is to establish Teavana as the most recognized and respected
brand in the tea industry by expanding the culture of tea across the world. For
more information, visit 

Forward-Looking Statements

Certain statements contained herein are "forward-looking statements" within the
meaning of the applicable securities laws and regulations. Generally, these
statements can be identified by the use of words such as "anticipate,"
"believe," "could," "estimate," "expect," "feel," "forecast," "intend," "may,"
"plan," "potential," "project," "should," "will," "would," and similar
expressions intended to identify forward-looking statements, although not all
forward-looking statements contain these identifying words. These statements are
based on information available to Starbucks as of the date hereof, and Starbucks
actual results or performance could differ materially from those stated or
implied, due to risks and uncertainties associated with its business. These
risks and uncertainties include: evolving understanding of the definition of and
consumer preference for super-premium tea; continued growth in the health and
wellness sector and market acceptance of Starbucks in that sector; the ability
of Starbucks to accelerate its growth in the health and wellness sector and in
the tea category; the potential introduction of super-premium tea by new market
entrants; the ability of Starbucks to successfully integrate Teavana; the
long-term success of Starbucks strategy to innovate with new products, enter new
categories and expand into new channels of distribution; the outcome of any
legal proceedings that may be instituted against Teavana and others related to
the transaction; the ability to retain certain key employees of Teavana; and the
risk factors disclosed in Starbucks most recent Annual Report on Form 10-K,
which Starbucks filed with the Securities and Exchange Commission on November
16, 2012. Forward-looking statements reflect management`s analysis as of the
date of this release. Starbucks does not undertake to revise these statements to
reflect subsequent developments, except as required under the federal securities

Photos/Multimedia Gallery Available:

Starbucks Coffee Company
Media Contact:
Lisa Passé, +1-206-318-7100
Investor Relations Contacts:
JoAnn DeGrande/Greg Smith, +1-206-318-7118

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