Bolthouse Farms is employing new strategies to elevate its standing in the specialty beverage sector, unveiling a strategic new agreement with Starbucks. Through this deal, the company will acquire the brand and business of Evolution Fresh, a producer of primarily organic, cold-pressed, premium juice products.
“Evolution Fresh is a natural extension of the Bolthouse Farms portfolio and we look forward to welcoming the team,” commented Jeff Dunn, Chairman and Chief Executive Officer of Bolthouse Farms. “At Bolthouse Farms, with the support of Butterfly, we strive to ensure that the acres we grow and beverages we make have a positive impact on the land, on the people who make up our company, and on all people. By bringing Evolution Fresh into our portfolio, we will extend our spirit of ingenuity and innovation, sharing resources and passion for high-quality, nutrient-dense juices to pioneer solutions for today’s food system.”
With this acquisition, Evolution will be able to accelerate its growth trajectory while Starbucks focuses its efforts on the core business and its partner and customer experience, according to a press release.
All of Evolution Fresh’s employees will transition to Bolthouse as well.
“Evolution Fresh has grown steadily over the last several years as a result of our partners’ hard work and commitment to the brand. We feel there is a great runway and opportunity to take Evolution Fresh to the next level, and Bolthouse Farms’ considerable experience and success in the premium beverage category will allow the brand to continue growing,” added Hans Melotte, Starbucks Executive Vice President Global Channel Development. “Bolthouse Farms shares the same values and commitment to putting people first in everything they do, which affirms for us that we have found the right opportunity for Evolution Fresh.”
Through Bolthouse Farms, Evolution joins private equity firm Butterfly’s brand portfolio. Bolthouse will now expand its beverage offerings to include a full lineup of primarily organic cold-pressed, premium juices, while Starbucks stores in the U.S. will continue to sell Evolution products.
“We have long admired the Evolution Fresh brand and see tremendous untapped potential in the premium beverage category. By bringing these powerhouse brands together—Bolthouse Farms and Evolution Fresh—we will deliver a robust, high-growth, and consumer-preferred portfolio of juices to market,” said Bill Levisay, President, Consumer Brands, Bolthouse Farms.
The deal is expected to close later this year. Further details have not yet been disclosed.
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