Starbucks has sold its Evolution Fresh premium juice brand and business to Bolthouse Farms.
Described as the US’ top super-premium refrigerated beverage brand and the nation’s largest carrot supplier to North American retailers, Bolthouse Farms will offer Evolution Fresh an opportunity to accelerate its growth, the two companies said in a statement.
Starbucks, meanwhile, will be able to focus on growing its core business and its partner and customer experience.
“Evolution Fresh has grown steadily over the last several years as a result of our partners’ hard work and commitment to the brand,” said Hans Melotte, Starbucks executive VP of global channel development.
“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.”
Terms of the deal were not disclosed, but when the sale is settled later this year, all existing staff will transfer to Bolthouse Farms, which is backed by investment from private equity fund Butterfly, a specialist in the food and beverage sector.
Starbucks bought Evolution Fresh in 2012 and soon after opened a standalone store for the brand.
Evolution Fresh’s range will be expanded to include primarily organic cold-pressed, premium juices and US Starbucks stores will continue to sell its products. It is unclear about distribution outside the US.
