Specialty Retail
Company Overview of Teavana Holdings, Inc.
Company Overview
3630 Peachtree Road NE
Suite 1480
Atlanta, GA 30326
United States
Founded in 1997
473 Employees
Key Executives for Teavana Holdings, Inc.
Teavana Holdings, Inc. Key Developments
On December 31, 2012, pursuant to an Agreement and Plan of Merger, dated as of November 14, 2012, by and among Teavana Holdings, Inc., Starbucks Corporation and Taj Acquisition Corp., Merger Sub merged with and into the company with the company continuing as the surviving corporation. In connection with the Merger, all of the members of the company's board of directors (other than Andrew Mack) resigned as of the Effective Time. Following such resignations, Troy Alstead and Jeff Hansberry were elected to the company's board of directors. Andrew Mack remained a director of the company. In connection with the Merger, as of the Effective Time, Jeff Hansberry, Andrew Mack, Richard Lautch and Sophie Hager Hume became an officer of the company. Pursuant to the Merger Agreement, on December 31, 2012, at the Effective Time, the: Second Amended and Restated Certificate of Incorporation of the company was amended and restated; and also amended and restated Bylaws of the company were amended and restated, effect immediately prior to the Effective Time.
Teavana Holdings, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended October 28, 2012. The company reported net sales of $46,037,000, loss from operations of $2,217,000, loss before income taxes of $2,455,000, net loss of $1,415,000 or $0.04 per basic and diluted share against net sales of $33,426,000, income from operations of $1,612,000, income before income taxes of $1,490,000, net income of $936,000 or $0.02 per basic and diluted share a year ago. Net loss, which includes a loss from Teaopia of $1.0 million after tax and $0.2 million after tax in other one-time expenses, was $1.4 million as compared to net income of $0.9 million in the third quarter of fiscal 2011. The Teaopia loss was driven by a $0.8 million after tax loss from operations and $0.2 million after tax in one-time transaction and integration expenses. The other one-time expenses include transaction costs related to the pending Starbucks acquisition and set-up costs for international entity. For the nine months, the company reported net sales of $133,436,000, income from operations of $3,659,000, income before income taxes of $3,218,000, net income of $1,940,000 or $0.05 per basic and diluted share against net sales of $99,679,000, income from operations of $10,400,000, income before income taxes of $8,847,000, net income of $5,291,000 or $0.14 per basic and diluted share a year ago. Net income, which includes a loss from Teaopia of $2.4 million after tax and $0.3 million after tax in other one-time expenses, was $1.9 million as compared to $5.3 million in the prior year period. The Teaopia loss was driven by a $1.3 million after tax loss from operations and $1.1 million after tax in one-time transaction and integration expenses. The other one-time expenses include transaction costs related to the pending Starbucks acquisition and set-up costs for international entity.
Teavana Holdings, Inc. announced that they will report Q3, 2012 results After-Market on Dec 10, 2012
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| Type Date |
Target |
|
Merger/Acquisition
November 14, 2012 |
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