Starbucks (SBUX) To Buy Loose-Leaf Teas Retailer Teavana (TEA) For $620M

Starbucks (SBUX) To Buy Loose-Leaf Teas Retailer Teavana (TEA) For $620M

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Posted on November 14, 2012 at 14:17 PM EST

Starbucks Corp. (NASDAQ: SBUX) said it has agreed to buy specialty loose-leaf teas retailer Teavana Holdings Inc. (NYSE: TEA) for about $620 million in cash. Following the news, shares of TEA jumped more than 52% in regular trade. [More...]

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