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Starbucks Completes Teavana Purchase

Starbucks Coffee Company has completed its planned acquisition of Atlanta-based Teavana Holdings, Inc, making Teavana a wholly-owned subsidiary of Starbucks, the Seattle-based company said. “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,” Starbucks said in a statement released Monday. (Atlanta Business Chronicle)