🠈 Starbucks 🠊
Starbucks is a multinational of coffee stores. The chain claims to have over 23,000 locations. Many of the locations are just coffee stands. Most stores are corporate owned. About 5,000 stores are licensed franchises.
This section provides a partial list of corporate events and merger.
- 1971: Starbucks was founded in Seattle by Jerry Baldwin, Zev Siegl, and Gordon Bowker. It was named for a character in Moby Dick. In the first years. The company bought green beans from Peet's Coffee which they roasted and resold.
- 1984: The owners of Starbucks bought Peet's Coffee.
- 1987: The owners sold Starbucks to Howard Schultz. Schultz had started as a manager of Starbucks. He went on to create a chain of coffee houses called Il Giornale. Shultz rebranded his 46 coffeehouses as Starbucks. This would be the start of the Starbucks chain. He then started an aggressive expansion. He had 46 stores by 1989.
- 1992: Starbucks had 140 stores. They sold 12% of the company in an IPO that raised $25M. After the IPO, the market capitalization was $271M.
- 1998 Starbucks acquired the 56-outlet company in the United Kingdom called Seattle Coffee Company for 1.8 million shares of stock. This is about $83 million.
History of Seattle Coffee
- 2003: Starbucks acquired Seattle's Best Coffee and Torrefazione Italia from AFC Enterprises for $72m.
History of Seattle's Best Coffee
- 1969: The company founded as an ice cream/coffee shop called Wet Whisker on Whidbey Island in Washington by Jim Stewart. Wet Whiskers roaster their own coffee.
- ~1971: Stewart sold the island store and established Stewart Brothers Wet Whisker on Pier 70 in Seattle's Waterfront
- 1983: They changed the name to Stewart Brothers Coffee and began to expand.
- 1991: They won a coffee brewing competition and changed the name to Seattle's Best Coffee.
- ~1995: Seattle's Best Coffee merged with Torrefazione Italia the group became Seattle Coffee Company.
- 1986: Umberto Bizzarri established Torrefazione Italia in Seattle.
- Torrefazione Italia continues as a brand (Buy on Amazon).
- Umberto's son Emanuele started an independent chain called Caffè Umbria
- 199?: Seattle Coffee signed an agreement to put stores in some JC Penney stores
- 1998: AFC Enterprises, which owns Popeyes acquired Seattle Coffee Company.
- AFC Enterprise sold Seattle Coffee Company to Starbucks
- Starbucks continues to use and expand the Seattle Best brand.
- 2006: Starbucks acquired most of the stores of Diedrich Coffee
History of Diedrich Coffee
- 1916: Charlotte Diedrich inherited a coffee plantation in Costa Rica.
- 1946: her son Carl Diedrich joined the firm and bought a plantation in Guatamala.
- 1972: the company owned a roasting and coffee house in Newport Beach, Ca.
- 1996: Diedrich went public with headquarters in Irving, Ca.
- 1999: Diedrich acquired Coffee People from Second Cup Limited of Toronto for $34M. The acquisition included Coffee Plantation and the US outlets of Gloria Jean's Coffee (the Australian outlets still exist.
- 2006: Diedrich sold its company owned coffee shops to Starbucks (franchised shops remained with Diedrick.)
- 2009: Green Mountain Coffee Roasters Inc. acquired Diedrich.
- 2008: Starbucks acquired Coffee Equipment Company which had developed the Clover Brewing System.
- 2008: Starbucks introduced its loyalty gift cards.
- 2012: Starbucks acquired San Francisco based La Boulange bakery from Next World Group for $100M. The store had 23 locations. The acquisition enhanced the baked goods at Starbucks
History of La Boulange
- 1997: Pascal Rigo, who grew up in the Bordeaux region of France created the Panissimo Group to build boulangerie style bakeries and French restaurants in San Francisco.
- 2006: NextWorld Capital begins investing in La Boulange.
- 2012: Starbucks acquired La Boulange in a $100M deal with hopes of creating a national bakery chain.
- 2015: Starbucks closed the La Boulange though they may keep some of the pastries.
- Starbucks acquired Teavana in 2012.
- 1997: Teavana was created by a couple wanting to promote loose leaf tea and bring gourmet tea houses to the US.
- 2011: Teavana had an IPO worth $100M on the NYSE with the symbol TEA.
- 2012: Starbucks launched a hostile takeover and acquired Teavana which had 300 company owned stores for $620M.
- 2017: Starbucks closed Teavana which had 379 stores and 3300 employees. Some got jobs at Starbucks.
- LA Times: Diedrich to Acquire Coffee People (Drawn 1/3/2018)
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