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Starbucks' latest buzz: tea bars

Friday, November 16, 2012

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Starbucks' latest buzz: tea bars
Nov 17th 2012, 06:11

By Candice Choi and Sarah Skidmore Associated Press Comments The deal marks StarbucksÂ' latest push to expand beyond its ubiquitous cafes, with the company facing intensifying competition from fast food. (Ross William Hamilton / Associated Press) New York â€" Starbucks wants to make the tea shop as ubiquitous as its namesake cafes. The Seattle-based company said recently that it will pay $620 million in cash to buy Teavana Holdings Inc., which sells high-end loose leaf teas in 300 shopping mall locations. The plan is to expand Teavana's footprint beyond the suburban mall with stand-alone shops around the world, while adding tea bars where customers can buy hot and cold drinks. CEO Howard...

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