finance

Starbucks to sell juice brand to Bolthouse Farms



© Reuters. FILE PHOTO: A Starbucks sign is shown on one of the company’s stores in Los Angeles, California, U.S. October 19, 2018. REUTERS/Mike Blake GLOBAL BUSINESS WEEK AHEAD

(Reuters) – Starbucks Corp (NASDAQ:) said on Tuesday it would sell its Evolution Fresh juice brand to California-based Bolthouse Farms for an undisclosed amount, as the global coffee chain seeks to focus efforts on the growth of its core business.

Starbucks will continue to sell Evolution Fresh products at its stores in the United States, the company said, adding that the transaction was expected to close later this year.

Starbucks had acquired Evolution Fresh in 2011 for $30 million in cash.



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