Company to buy Seattle Coffee Co.

Thursday, April 17, 2003 | 11:24 a.m.

SEATTLE -- Starbucks Corp. has agreed to acquire Seattle Coffee Co. from its parent company for $72 million in cash.

The deal, announced Wednesday, is a drop in the cup for Starbucks, which operates more than 6,000 stores worldwide. It does, however, end a longstanding rivalry between two of the most prominent vendors of Seattle's iconic beverage.

Starbucks gains 150 cafes across North America under the Seattle's Best Coffee and Torrefazione Italia Coffee brands as well as a wholesale business, which sells to fast-food restaurants, cruise lines, national parks and many small coffee houses and carts. Starbucks said it plans to continue operating its two new brands under their own names.

archive