Starbucks will focus on its tea expertise, retail activation and consumer engagement, while Anheuser-Busch will steer production, bottling and distribution to wholesalers.
"We are excited to work with Anheuser-Busch to unlock the premium ready-to-drink market and further grow demand for the Teavana brand," said Starbucks CEO Howard Schultz.
Starbucks Corp. bought Teavana for $620 million in 2012, according to The Associated Press.
The deal is expected to be finalized later in 2016 and the product launch in 2017.
In Other News
1
Woolpert’s purchase of European geospatial solutions firm latest in...
2
Hydraulic Bar at Spooky Nook opens: ‘It’s a very eclectic bar’
3
Frownies, a longtime, area family-owned skincare business, plans move
4
Dayton Children’s launches simulation center
5
Dayton nursing home files for bankruptcy but is not expected to close