As with the acquisitions of Evolution Fresh and La Boulange, Starbucks president Jeff Hansberry said Teavana is expected to help the coffee giant add to a growth strategy centered on bringing added products to its stores, while targeting new avenues for distributing of the company's products in supermarkets and large retailer outlets.
Hansberry added, in a press release, that Teavana and Starbucks's two previous acquisitions are examples of the company's "Blueprint for Growth."
"Evolution Fresh, La Boulange and now Teavana demonstrate how Starbucks will add brands that strengthen our core offering and create a rich ecosystem of experiences with shared values, mutual efficiencies and complementary characteristics," said Hansberry, in a statement.
Earlier in November, TheStreet reported that investors should focus on Starbucks growth prospects, even after the retailer reported surprisingly strong third quarter earnings and an unexpectedly large increase to its quarterly dividend.In the wake of Starbucks previous acquisitions of Evolution Fresh and La Boulange - both occurring within the past 12 months -- TheStreet's also compared Schultz's growth and acqusition strategy to the one employed by IT services and software giant IBM (IBM - Get Report). To be seen is whether acquisitions like Teavana live up to such expectations. As Starbucks heads into 2013, recent acquisitions will play a front and center role in whether CEO Howard Schultz can prove to skeptical investors that he's uncovered a predictable way to grow profits at the coffee chain, after previous efforts at store expansion backfired and led to his departure from the company roughly a decade ago. Here's another take on Starbucks in a peak coffee era. For more on other restaurant stocks reporting in November, see why McDonalds is no longer overcooked. Also see why Chipotle Mexican Grill may be on a market value meal for other restaurants-based stock ideas. Follow @agara2004 -- Written by Antoine Gara in New York