"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.
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.
On Tuesday, Graham told Fox News that "One thing I like about President Trump is he understands we're in a religious war". The military commission system at the off-shore prison has been often beset by legal challenges and delays.
Note: This recall includes fire extinguisher models that were previously recalled in March 2009 and February 2015 . There have been almost 400 reports of extinguishers malfunctioning, resulting in 16 injuries and one death.
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.
For Overwatch players who have also played many of Blizzard's other games, the Blizzard World map is an absolute dream come true. Moira , the shooter's latest addition, is a support hero that can heal teammates and teleport around the map.
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.
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 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.
Broadcom considering bid to acquire San Diego's Qualcomm
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.
Climbing Uluru Will Be Banned From October 2019
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.
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.
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.