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With the acquisition of La Boulange, Starbucks says it hopes to popularize the French bakery experience in the U.S. the same way it brought the experience of the Italian espresso bar to the masses. "After more than 40 years, we will be able to say that we are bakers too," CEO Howard Schultz said in a statement. The acquisition of Bay Bread LLC, the parent company of La Boulange, is expected to close in Starbucks' fiscal fourth quarter and dilute the company's earnings by 2 cents per share in the second half of the fiscal year. For the full year, Starbucks has said it expects earnings per share to be between $1.81 and $1.84. Starbucks shares rose $1.75, or 3.4 percent, to close at $53.90. They fell $1.40 or 2.6 percent in after-hours trading following the announcement of the La Boulange deal.
[Associated
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