Starbucks has announced plans to do for tea what it did for espresso 30 years ago, and according to CEO and President Howard Shultz, Teavana is the perfect fit. Starbucks purchased the 300-store chain this week, planning to capitalize on its extensive knowledge of tea, broad offerings and commitment to quality that makes it a perfect fit with Starbuck’s brand and culture.
The acquisition gives Starbucks a solid foothold in the $40 billion global market for tea. The company plans to expand the brand’s footprint, extending it into neighborhoods as well as area malls and consumer products. The company has also ventured into international markets, opening its first store in the Middle East. The purchase comes close on the heels of another major acquisition in the tea market, Tazo, which opened its first store in Seattle’s University Village this week.
The company hopes that it can rapidly expand Teavana using its existing infrastructure, purchasing power and store design and operations experience, which propelled the Washington State based company into the rarified realm of “business legend.”
Starbucks paid $630 million in cash for the company and the deal is expected to close by year’s end, pending regulatory approval.
You can find out more about Teavana on the company’s website.
Read more about the Teavana acquisition at Bevnet.
Nashville may be known for country music, but it’s about to get a new claim to fame – the first expansion by the Washington State’s Oberto Company.
The new facility will join its kissin’ cousin in Kent, Washington, where the company currently produces all its snack products. The company has been a Northwest favorite since 1918.
The company needed to expand to meet growing demand for its products nationally. The decision to create all-natural versions of its products has caused sales to double in the last few years with no let up in sight. In addition to the Oh Boy, Oberto! brand, the company also sells Lowrey’s Meat Snacks and Pacific Gold Beef Jerky.
The new facility will allow the company to continue to produce its products in the U.S., something Oberto committed to doing in 2010 after a brief flirtation with overseas production, said Tom Ennis, CEO. All Oberto products are now made in the U.S.A.
Since the company’s products are focused on being all-natural, proximity of production to markets is essential and the new Nashville plant allows Oberto to continue to expand its presence east of the Mississippi.
Oberto was started by an Italian immigrant family in pursuit of the American dream and the family is still involved in the business as well as the community. Oberto is a big sponsor of local teams and events, which often feature a visit by Art Oberto, the 85-year-old son of the company’s founder.
A team of enterprising University of Washington students have managed to create a large-format 3-D printer that can turn shredded plastic waste into life-sized prototypes and products. One of the first things they printed was a boat made of recycled milk jugs (about 250) to enter in the Milk Carton Boat Race on Greenlake.
The printer can use any recycled plastic and the prototype was built out of salvaged pieces from the UW’s machine shop as well as a plasma cutter and drill motor. The printer can be built for about $3,000 and the students plan to create a business from their creation, believing there is a huge market for their “printed” products, particularly their design for compostable toilets for use in third world countries.
Check out their story in The Seattle Times.
It’s not often that old meets new in the business world. But here in Washington, that type of innovation is in our nature every single day.
Brown & Haley, a Northwest institution celebrating its 100th anniversary this year, has joined forces with Precept wine, one of the major players in the Washington wine industry. Together, they have created a new dessert wine, Almond Roca Cream.Almond Roca Cream took 2 ½ years for the companies to perfect the blend, going from a red wine that tasted like the famed candy to a unique, creamy dessert wine. I became available in Washington State in October and retails for $14.99.
Brown & Haley is one of the biggest success stories in the state, creating Almond Roca in 1923. Today, the company exports 40% of its sweet products to other countries, making it one of Washington’s major exporters. Precept Wines was founded in 2003 and is the largest privately owned wine company in the Northwest.
If you’ve ever described wine as having tobacco, cherry or earth nuances, then you know the importance of all the senses in enjoying a glass of wine.
Helping Washington’s 800 wineries improve their flavor profiles will soon be the work of a new research lab on Washington State University’s Richland campus. The $15 million Wine Science Center is planned for completion by 2015 and should give Washington State’s multi-billion dollar wine industry a leg up in the market, bringing out the flavors that savvy wine drinkers look for in a good bottle of wine.
If you’ve been searching for a rugged, eco-friendly sports bottle for your outdoor adventures, check out Liberty Bottle Works. Based in Union Gap, the company produces water bottles made of recycled aluminum.REI liked them so much they ordered a half million bottles. Amazon and Whole Foods have followed suit. The company employs 32 full-time employees, including engineers, chemists and programmers. Sales were $1.4 million in 2011 and are expected to be $3 to $4 million in 2012.
For more information, visit Liberty Bottle Works.