Bolthouse Farms to Acquire Starbucks’ Evolution Fresh
Starbucks and Bolthouse Farms have entered into a definitive agreement for Bolthouse Farms to acquire the brand and business of Evolution Fresh. The partners (employees) that support the business will also transition to Bolthouse Farms upon close of the transaction.
Evolution Fresh is a leading producer of primarily organic, cold-pressed, premium juice products. By joining forces with Bolthouse Farms – the No. 1 super premium refrigerated beverage brand and largest carrot supplier to North American retailers1 – Evolution Fresh will have the opportunity to accelerate its growth trajectory while Starbucks focuses 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 our partners’ hard work and commitment to the brand. We feel there is a great runway and opportunity to take Evolution Fresh to the next level, and Bolthouse Farms’ considerable experience and success in the premium beverage category will allow the brand to continue growing,” said Hans Melotte, Starbucks executive vice president Global Channel Development. “Bolthouse Farms shares the same values and commitment to putting people first in everything they do, which affirms for us that we have found the right opportunity for Evolution Fresh.”
Through this acquisition, Bolthouse Farms will expand its beverage offerings from nutrient-dense, plant-powered juices and smoothies to include a full lineup of primarily organic cold-pressed, premium juices. Starbucks stores in the United States will continue to sell Evolution Fresh products.
“Evolution Fresh is a natural extension of the Bolthouse Farms portfolio and we look forward to welcoming the team,” said Jeff Dunn, chairman and chief executive officer of Bolthouse Farms. “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.”
Butterfly is a leading private equity firm that specializes in the food sector with a particular focus on high-growth, on-trend categories. Through Bolthouse Farms, Evolution Fresh joins Butterfly’s brand portfolio that includes the likes of Chosen Foods, MaryRuth Organics, Orgain, and Pete and Gerry’s Organics.
“We have long admired the Evolution Fresh brand and see tremendous untapped potential in the premium beverage category. By bringing these powerhouse brands together — Bolthouse Farms and Evolution Fresh — we will deliver a robust, high-growth, and consumer-preferred portfolio of juices to market,” said Bill Levisay, president, Consumer Brands, Bolthouse Farms.
The transaction, which is for an undisclosed amount, is expected to close later this year.
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Coca-Cola Spills the (Honest) Tea; Industry Reacts
In what Honest Tea co-founder Seth Goldman called a “gut punch,” Coca-Cola announced Monday that it would discontinue the Honest Tea line.
The announcement was “a gut punch to all the sweat, tears and incredible passion that went into building our beloved brand,” Goldman said in a post on his LinkedIn account.
“My thoughts are with our longtime partners and friends, the organic and Fair Trade partners who helped develop their communities and protect their ecosystems with the tens of millions of pounds of tea, sugar, and spice they sold us,” Goldman wrote.
“I am grateful for the hundreds of amazing people who helped Barry Nalebuff and me grow this idea from five thermoses and an empty Snapple bottle into more than a billion bottles sold.”
“A sad day,” Nalebuff commented as he shared Goldman’s post. “But tis better to have bottled and lost than never bottled at all. Seth Goldman remains an inspiration to me and to the world. His thoughts below show his empathy, positivity, and honesty. Wish I could bottle that, too.”
“I too am crushed,” Ironmonger Brewery co-owner Tom Larsen commented.
Chuck Muth, founder of Aqua Cultured Foods called Honest Tea a “tremendous product” that he was proud to represent as a board member.
“If Coke had any vision they would have focused on Honest as the better long term play in tea,” Muth commented. “All in all a sad day.”
Industry executive and author Joe Dobrow commented that “Honest Tea has been a godsend for millions of consumers and farmers. But it was also the key that unlocked your unrivaled vault of inspiration, helping launch and grow countless other natural products entrepreneurs and companies. And dare I say, their collective impact on the world probably dwarfs that of Honest Tea.”
Dobrow wrote that Goldman worked hard to mentor others and “gave them the vision, game plan, and advice they needed to help change the world.”
“I know Coca-Cola did much to accelerate the growth of Honest Tea,” Dobrow wrote, “and for that I am grateful. But when the final chapter is written in the history of the natural foods movement – no idea who that author might be – we must admit that this is were legendary brands go to die. RIP, HT.”
“Shocking!” Steven MK Fader, executive leader of operations and purchasing for Whole Foods Market. “Honest was the trailblazer in this category and has helped change the way consumers think about what they drink.”
In a press release issued Monday, Coca-Cola said it “is challenging itself to think differently about how its brands help accelerate business transformation, reflect consumer choice and promote growth as a company. This means rationalizing its lineup of drinks and prioritizing fewer, bigger brands with the greatest potential for scale and profitable growth.
“While the HONEST Kids portfolio is quickly growing and will remain a successful part of the business, the HONEST teas product line will be phased out of The Coca-Cola Company’s beverage portfolio at the end of 2022.“Gold Peak, a national brand, and the regional Peace Tea offering will now anchor the company’s ready-to-drink tea (RTD) strategy in North America,” the company said.
In his bio, Goldman said Coca-Cola acquired Honest Tea in 2011, “helping to further the reach and impact of Honest Tea’s mission by becoming the first organic and Fair Trade brand in the world’s largest beverage distribution system. Today, Honest Tea is the nation’s top selling ready-to-drink organic bottled tea and Honest Kids is the nation’s top-selling organic children/youth beverage. The brand is carried in more than 100,000 outlets in the United States, including Wendy’s, Chick-fil-A, McDonald’s and Subway restaurants.”
In 2016, became TeaEO emeritus and innovation catalyst for Coca-Cola’s Venturing & Emerging Brands business unit. Goldman is focusing on building his “beloved/mission-driven brands” Eat the Change, Beyond Meat and PLNT Burger.”
Nalebuff is the Milton Steinbach professor at Yale.
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SunnyD, Nia Sioux Stay ‘ReFreshed’ This Summer
From what you wear to what you sip, SunnyD beverage brand, owned by Harvest Hill Beverage Company, is bringing fans a refreshed take on nostalgic summer vibes with the return of two fan-favorite flavors: classic Lemonade and Raspberry Lemonade. The Swag Shop will return filled with summer staples updated with a lemony-twist. To kick it all off with a splash, SunnyD has teamed up with singer, actress, podcast host and former “Dance Moms star” Nia Sioux, to announce the Summer ReFresh Contest on TikTok.
Fans can participate in the Summer ReFresh Contest through June 6 by posting a duet response on TikTok to Nia’s contest kick-off video showing how they’re refreshing their style for a sunny activity outside. Whether it’s a trendy tie-dye take on a plain white tee for an afternoon bike ride or revamping your poolside gear to be styling in the sun, eligible participants are encouraged to put their individual style on display.
One grand prize winner will receive nearly $5,000 in prizes, including a $4,500 cash prize, the full summer swag collection and a summertime supply of SunnyD’s Raspberry Lemonade and Lemonade. Five runners up will win the exclusive summer swag collection and SunnyD’s lemonades.
The Swag Shop is also back for a limited-edition summer run with a fresh take on merch made with bold designs inspired by lemonade flavors. The items available include:
- Tie-Dyed T-Shirt ($25) – Made with soft cotton material, this logo tee features a pink and yellow tie-dyed pattern inspired by the Lemonade and Raspberry Lemonade flavors.
- Tie-Dyed Shorts ($40) – Pair them with the tie-dye tee or rock them on their own, these eye-catching logo gym shorts are a versatile, bold pick to build a summer outfit around.
- Bucket Hat ($30) – Bucket hats are back and – dare we say – here to stay. This white canvas bucket hat will have you looking and feeling cool all summer long.
- Slides ($40) – To rep SunnyD from head to toe (literally), these slides are a must-have for days by the pool, on the beach, or just hanging with besties.
- Skateboard ($100) – A first, limited drop, SunnyD fans can shred in style with this retro skateboard inspired by our very own skateboarding on sand commercial.
Relive the nostalgic days of summer lemonade stands by purchasing multi-serve 64-ounce carafes of Lemonade and Raspberry Lemonade from retailers nationwide including Kroger, Walmart and more, all while supplies last. Like other flavors, Lemonade and Raspberry Lemonade contain 100% Vitamin C and only 60 calories per 8-ounce serving.
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