Cravath and DLA Piper lead on $620m Starbucks tea purchase
Cravath Swaine & Moore and DLA Piper have advised on Starbucks' $620m (£391m) acquisition of speciality tea company Teavana. Cravath acted for Starbucks with a team led by New York corporate partner Faiza Saeed alongside fellow corporate partners Eric Schiele and Matthew Morreale, tax partner Lauren Angelilli, executive compensation and benefits head Eric Hilfers and real estate partner Kevin Grehan.
November 16, 2012 at 09:59 AM
2 minute read
Cravath Swaine & Moore and DLA Piper have advised on Starbucks' $620m (£391m) acquisition of speciality tea company Teavana.
Cravath acted for Starbucks with a team led by New York corporate partner Faiza Saeed alongside fellow corporate partner Eric Schiele and environmental partner Matthew Morreale, tax partner Lauren Angelilli, executive compensation and benefits head Eric Hilfers and real estate partner Kevin Grehan.
DLA advised Teavana with a team headed by Baltimore-based global corporate co-chair Robert Smith and Atlanta corporate partner Brian Gordon.
The deal has seen Starbucks acquire Teavana in an all-cash transaction, with a view to growing the tea company's 300 shopping mall-based stores and launching local neighbourhood outlets in 2013.
Teavana also opened its first store in the Middle East in partnership with Starbucks' existing joint venture partner Alshaya earlier this month.
The tea company reported turnover of $43.1m (£27.1m) for the second quarter of this year, up 38% on the same period in 2011 when revenues stood at $31.3m (£19.7m).
The news comes after Starbucks appointed a new GC this summer with in-house counsel Lucy Lee Helm taking over the role from former GC Paula Boggs, who announced her retirement at the close of 2011 to join US president Obama's reelection campaign.
Earlier this year Travers Smith and Freshfields Bruckhaus Deringer advised on the establishment of a new Tesco-backed coffee venture called Harris & Hoole, with Tesco reportedly taking a 49% share in the new business.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
Mexico's Judicial Reforms and the Implications for Foreign Investors
5 minute read
Davis Polk, Gibson Dunn Advise on Nippon Paint's $2.3B Chemical Company Buy
Trending Stories
- 1Infant Formula Judge Sanctions Kirkland's Jim Hurst: 'Overtly Crossed the Lines'
- 2Abbott, Mead Johnson Win Defense Verdict Over Preemie Infant Formula
- 3Preparing Your Law Firm for 2025: Smart Ways to Embrace AI & Other Technologies
- 4Greenberg Traurig Initiates String of Suits Following JPMorgan Chase's 'Infinite Money Glitch'
- 5Data-Driven Legal Strategies
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
