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Starbucks Corp. has agreed to sell the Tazo tea brand for $384 million to Unilever PLC, according to a <a href="http://www.nrn.com/finance/starbucks-sell-tazo-tea-brand-unilever-384-million?utm_source=1851franchise.com&utm_medium=article&utm_campaign=nations-restaurant-news-starbucks-to-sell-tazo-tea-brand-to-unilever-for-384-million-2704756" target="_blank" rel="nofollow">recent Nation&rsquo;s Restaurant News article</a>. This will give Unilever Tazo&rsquo;s recipes, intellectual property and inventory in the deal, which was originally acquired by Starbucks in 1999 for $8.1 million

After announcing the closing of all 379 Teavana locations, Starbucks planned to focus on selling the brand&rsquo;s tea in stores and by selling Tazo,&nbsp;the company says it is sharpening its focus on its up-level strategy with Teavana. Inside of Starbucks locations, tea sales have seen double digits growth annually, especially in Asian markets where the chain is expanding.

&ldquo;With our growth strategy for premium tea exclusively focused on Teavana, we are pleased to transition our Tazo business to Unilever,&rdquo; Starbucks CEO Kevin Johnson said in a statement.

Read the&nbsp;<a href="http://www.nrn.com/finance/starbucks-sell-tazo-tea-brand-unilever-384-million?utm_source=1851franchise.com&utm_medium=article&utm_campaign=nations-restaurant-news-starbucks-to-sell-tazo-tea-brand-to-unilever-for-384-million-2704756" target="_blank" rel="nofollow">full article here.</a>

Nation’s Restaurant News: Starbucks to Sell Tazo Tea Brand to Unilever for $384 Million

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Now the coffee giant can focus on one brand of tea in stores, Teavana.

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Nation’s Restaurant News: Starbucks to Sell Tazo Tea Brand to Unilever for $384 Million

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