"With our growth strategy for premium tea exclusively focused on Teavana, we are pleased to transition our Tazo business to Unilever", President and CEO, Starbucks, Kevin Johnson said in a statement. Unilever is paying $384m for the Tazo brand, which is sold primarily in grocery and convenience stores.
The acquisition by Unilever is the latest in a string of deals by the Anglo-Dutch consumer giant to add smaller and healthier brands to its portfolio, particularly those in the fast-growing speciality tea market.
Starbucks also reported earnings for its fiscal fourth quarter of 2017 on Thursday, which left investors underwhelmed as it delivered worse-than-expected sales figures. Starbucksacquired the brand in 1999 for $8.1 million, five years after Tazo was founded.
Unilever North America president Kees Kruythoff, meanwhile, praised TAZO's strong appeal with millennials.
The chain's fourth quarter in 2016 included an extra week, so comparisons between this year and last week will be a little off, the company said. In the past year, Tazo had sales of $112.5 million.
Starbucks has removed its e-commerce platform as part of the streamlining, instead, will set its attention to mobile order improvements, innovation in food and beverage, investments in its own roasteries, and gaining share of at-home coffee.
Starbucks total net income slipped 1.6% to $789 million, or 54 cents a share, on total net revenue of $5.7 billion for the three months ended October 1.
On the company's quarterly call, Starbucks said it would launch a co-branded Chase Visa credit card this winter. Globally, Starbucks posted 2% growth in same-store sales, missing expectations. Net revenue was $5.7bn, short of the estimate of $5.8bn. Its earnings were 55 cents per share, on the nose with analyst projections. Starbucks said same-store sales would have increased 3 percent without the impact of hurricanes Harvey and Irma.
Starbucks also adjusted its long-term annual global same-store sales growth target to 3% to 5%, compared with its previous target of mid-single digit growth.
Well, Kylie went for the classic "angel and devil" combo with her best friend - and they absolutely slayed. She captioned the photo " That's daddy", which fans are taking as a confirmation of her pregnancy.
Jared Kushner voluntarily handed over documents just days after former Donald Trump campaign advisors were indicted . Sam Nunberg , who works under Stone and briefly worked for Trump's campaign, then criticized Kushner on the record.
The Uluru-Kata Tjuta management board discussed permanently closing the climbing route on Uluru on Wednesday. Figures show only 16 per cent of visitors made the climb during its open times between 2011 and 2015.
The 1,550-megawatt plant in the town of Unchahar supplies electricity to nine states, according to NTCP's website. Also the UP ADG (Additional Director General) of police has confirmed of 10 deaths in the explosion.
But Trump tweets that the judicial process at the Cuban detention center takes longer than the federal court system. Saipov was a legal resident of the US , and no one arrested on American soil has ever been sent to Guantanamo Bay.
The 20-year-old has been promoted from Aidy Boothroyd's Under-21 side, whom he has captained in three of his four internationals. Loftus-Cheek of Crystal Palace and Liverpool full-back Gomez have also earned their first places in Gareth Southgate's set-up.
Qualcomm is in the process of acquiring NXP, a process held up by legal snags and activist investor pushes for a higher bid. The offer of about $70 a share would include cash and stock and is likely to be made in the coming days, the people said.
When I say I'm going to beat these guys, I know it. "We are now in contract negotiations and we'll see where it goes". It was McGregor's first big chance to take the lead in promoting himself as a star attraction.
Rwanda outpacing Canada in closing gender gap
The report also reveals that on average, 66 per cent of women's work in India is unpaid, compared to 12 per cent of men's work. The march toward gender equality in education could reach the finish line within a mere 13 years, it said.
IPhone, Mac and iPad sales all increased this quarter
But investors will also be looking for color on the iPhone X , Apple's most expensive iPhone , during the company's earnings call. With the exception of pre-orders, most major telcos will not be selling the iPhone X in outer suburban or regional outlets.
Putin holds talks with Iranian, Azerbaijani counterparts
The Iranian officials have repeatedly warned that the accord would collapse if Washington officially withdrew its support. They repeated that there is a need for all sides to respect their obligations according to the multilateral agreement.
Nine headless bodies found in Tokyo flat; man held
The paper writes he was already serving a suspended sentence for sex-related crimes when the grim discovery was made. Shiraishi threw out some of the body parts as rubbish, along with the victims' belongings, reports said.
Excess of Halloween candy can be donated to soldiers, veterans
The dentist's office was able to donate more than a ton of candy to the troops last year, and hopes to beat that goal this year. Do you have more Halloween candy in your house than you know what to do with? The goodies are then sent overseas to the troops.
Man with Minnesota ties suspected in Utah murder
Finding the door unlocked, they entered and found a 63-year-old white man dead in the bathroom, Harvey said. The documents also say Boutain acknowledged taking three guns from a home in Colorado.