Teavana (TEA) Acquires Teaopia Ltd. for $26.9M
Tweet
Share
E-mailGet Alerts TEA Hot Sheet
Join SI Premium – FREE
Teavana Holdings, Inc. (NYSE: TEA) announced plans to acquire Teaopia Ltd., a leading mall-based specialty tea retailer in Canada, for $26.9 million in cash.
Teavana expects to fund the transaction primarily with cash on hand with the remainder from borrowings under an existing U.S. credit facility.
The acquisition is expected to close in the second fiscal quarter, subject to customary closing conditions. The acquisition’s impact to earnings per share is expected to be neutral in fiscal 2012, excluding transaction and integration expenses, and accretive by $0.03 - $0.04 in fiscal 2013.
Teavana expects to fund the transaction primarily with cash on hand with the remainder from borrowings under an existing U.S. credit facility.
The acquisition is expected to close in the second fiscal quarter, subject to customary closing conditions. The acquisition’s impact to earnings per share is expected to be neutral in fiscal 2012, excluding transaction and integration expenses, and accretive by $0.03 - $0.04 in fiscal 2013.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
- DA Davidson Reiterates Buy Rating on Box, Inc. (BOX) on Secular Tailwinds for Demand
- Morgan Stanley course-corrects their semiconductor equipment outlook on demand
Create E-mail Alert Related Categories
Mergers and AcquisitionsRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
