Teavana to Acquire Teaopia

Posted on April 16, 2012

Teavana has signed an agreement to acquire the assets of Teaopia, a mall-based specialty tea retailer in Canada. Teaopia has 46 stores in Canada. Teaopia also has an ecommerce website.

Teavana CEO Andrew Mack said in a statement, "With this acquisition, we immediately establish a strong foothold in many of the best mall locations in Canada. Teaopia''s prime mall locations, similar store branding and focus on premium loose-leaf teas, and great store employees and managers all make this opportunity a natural fit for us. As we integrate and rebrand the Teaopia stores, we look forward to leveraging our shared best practices and welcoming the Teaopia employees into the Teavana family."

Teaopia founder David Bellisario added, "I am excited for Teaopia to become part of the Teavana family. Teaopia will represent a stellar addition to Teavana, arguably the largest and most successful specialty tea retailer in the world. I look forward to working with Andrew and his team on this transition and watching the Teaopia stores thrive as part of Teavana."

Update: Teavana was then acquired by Starbucks in November 2012 not long after this deal.




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