Starbucks Sells Evolution Fresh to Bolthouse Farms
Posted on 05/29/2022
Disclosed on May 24, 2022, Starbucks Corporation (Starbucks Coffee Company) sold the brand and business of Evolution Fresh to Bolthouse Farms Inc. Evolution Fresh is a producer of primarily organic, cold-pressed juice products. Starbucks stores in the U.S. will continue to sell Evolution Fresh products. Through this acquisition, Bolthouse Farms will expand its beverage offerings from plant-based juices and smoothies to include a full lineup of primarily organic cold-pressed juices. Evolution Fresh opened its doors in 1995 and Starbucks bought the company for US$ 30 million in 2011. Starbucks is focused on its coffee-drink business and improving its stores and relations with its workers.
Butterfly Equity is a Los Angeles, California-based private equity firm specializing in the food sector, spanning the entire food value chain from “seed to fork” via four target verticals: agriculture & aquaculture, food & beverage products, food distribution and foodservice. Butterfly Equity is an investor in Bolthouse Farms.
The transaction, which is for an undisclosed amount, is expected to close later this year. Kirkland & Ellis advised Bolthouse Farms.
