Starbucks has acquired the maker of coffee maker coffee and herbal medicine products from the Yucaipa family, the company said Tuesday in a regulatory filing.
The purchase is part of a larger deal Starbucks is planning to complete with the Yucatan Family Investments, a limited partnership that includes the YUCAS.
The Yucatas founded Starbucks in 1984.
Starbucks has long owned a controlling interest in the Yúcatepec coffee brand.
Starbucks also owns a stake in the Yunis Yucaapas coffee company.
The deal was announced in a press release, which also detailed the Yuyu family’s intent to expand their brand in the U.S.
The Yucatepes have an established business in the specialty coffee market, producing a range of coffees and tea in the United States and Canada.
More: Starbucks plans to spend $1.5 billion on new stores in the coming years, and the company says it expects to create 200,000 jobs by 2025.
The deal, valued at $1 billion, includes a $400 million cash infusion that will help Starbucks expand in the Southeast and to markets like China, India and South Africa.
In addition to the purchase of coffee makers, Starbucks will also acquire a number of other products, including a coffee maker that can be used in tea.