US – Bolthouse Farms, a vertically integrated farm company, has announced plans to acquire the Evolution Fresh brand and business from the world’s largest coffeehouse chain, Starbucks for an undisclosed amount.
Bolthouse Farms is a California-based producer of primarily organic, cold-pressed juice and smoothie products, says the acquisition will accelerate its business growth in the premium beverage category.
Through this acquisition, Evolution Fresh will join Butterfly’s brand portfolio which includes Chosen Foods, MaryRuth Organics, Orgain, and Pete and Gerry’s Organics.
Starbucks which acquired Evolution Fresh, a line of organic, cold-pressed juices, is considering the sale in order to focus its efforts on the growth of the core Starbucks business and its partner and customer experience.
Evolution Fresh has grown steadily over the last several years as a result of the company’s hard work and commitment to the brand, Starbucks said adding that the divestment will enable the brand to reach its potential in the market.
Although it is selling the brand, Starbucks stores in the U.S. will continue to sell Evolution Fresh products.
Bolthouse Farms has been eyeing the Evolution Fresh brand for a long time and by bringing these powerhouse brands together, the company said it will deliver a robust, high-growth, and consumer-preferred portfolio of juices to the market.
Jeff Dunn, chairman, and chief executive officer of Bolthouse Farms said: “At Bolthouse Farms, with the support of Butterfly, we strive to ensure that the acres we grow and beverages we make have a positive impact on the land, on the people who make up our company, and on all people.
By bringing Evolution Fresh into our portfolio, we will extend our spirit of ingenuity and innovation, sharing resources and passion for high-quality, nutrient-dense juices to pioneer solutions for today’s food system.”
The acquisition by Bolthouse Farm comes at a time when the global fruit and vegetable juice market size was valued at USD 131.62 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 6.3% from 2022 to 2030, according to Global View Research.
The rise in the consumption of fruit juices, changes in consumer tastes, adoption of healthier diets, and the advent of cold-pressed juices are the major factors accelerating the growth of the market globally.
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