Starbucks will announce plans to grow its non-coffee profits at an investor relations conference in New York today.
The proposals are expected to include a growth strategy for Starbucks’ La Boulange Bakery acquisition. The Seattle-based firm paid Bay Bread LLC $100 million for the popular San Francisco bakery in July.
The announcement is likely to include a roll-out strategy for La Boulange pastries and bakery products across 2,500 US outlets by spring 2013.
The planned action is Seattle-based Starbucks’ latest attempt to kick-start its food business which has historically lagged well behind coffee sales.
The strategy will also cover Starbucks’ planned $620 million acquisition of Teavana tea bars and its Evolution Fresh juice operation which was purchased for $30 million in November 2011.
