David’s Tea Deja Vu

Whirly lollipop on orange background.

The $75M David's Tea (DTEA) IPO is being offered by Goldman and JP Morgan. The market capitalization at the $15-midpoint would be $350M. Expected pricing is Thursday night for trading on Friday. If things go like they did for Teavana then a share price of $26-28 might be expected.

Basically David's is stepping into the gap in the market left by Teavana after the acquisition by Starbucks (SBUX). SBUX has basically let the brand and strategy fade rather than invest in it. Teavana customers . . .

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