Starbucks Corp. will buy Seattle Coffee Co. for $72 million in cash to expand its own business via the supermarket and foodservice distribution of Seattle's Best and Torrefazione Italia brands, whose 12,000 points of distribution include 5,000 supermarkets. Seattle-based Starbucks, which reported fiscal 2002 sales of $3.3 billion, will continue to market both brands to complement Starbucks shops and
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Starbucks Corp. will buy Seattle Coffee Co. for $72 million in cash to expand its own business via the supermarket and foodservice distribution of Seattle's Best and Torrefazione Italia brands, whose 12,000 points of distribution include 5,000 supermarkets.
Seattle-based Starbucks, which reported fiscal 2002 sales of $3.3 billion, will continue to market both brands to complement Starbucks shops and its flagship brand. The purchase includes 129 Seattle's Best Coffee stores and 21 Torrefazione Italia shops in the U.S. and Canada. Starbucks has 6,000-plus shops worldwide.
The deal with Seattle Coffee parent AFC Enterprises is expected to close in July.
