It's Tea Time For Starbucks
Starbucks is brewing up a plan to take over the tea drinking market.
The coffee chain announced plans to buy loose leaf-tea company Teavana, sending Teavana stocks up more than 50%.
The $620 million all-cash deal may be part of a plan for the Starbucks to make greater in roads in primarily tea drinking countries.
The two companies recently opened a store together in the Middle East and last year Starbucks took the word coffee off their logo.
Teavana currently sells more than 100 kinds of teas in malls and online now it's going global.