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Restaurant Industry News
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Sunday June 11th, 2006 |
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Starbucks Plans Expansion Into Brazil
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Starbucks Teams Up with Top Retailers to Bring Starbucks Experience to Brazil; Expansion Supports the Company's Growth Strategy and Commitment to Long-Term Goal of More Than 30,000 Locations Worldwide |
Starbucks Coffee Company (Nasdaq:SBUX) today announced that it has signed a joint venture agreement with Cafes Sereia do Brasil Participacoes S.A., a Brazilian holding company led by successful local retailers, to form Starbucks Brasil Comercio de Cafes Ltda. (Starbucks Brasil).
Starbucks Cafes do Brasil will open and operate Starbucks retail locations throughout Brazil, with the first store scheduled to open in Sao Paulo within a year. When the store is opened, customers in Brazil will be able to share in the enjoyment of Starbucks legendary specialty coffee and service with more than 40 million current patrons that visit the Company's locations per week throughout the world.
"Starbucks is humbled and honored to be welcomed into Brazil, a country with a rich coffee heritage," said Buck Hendrix, president of Starbucks Latin America. "We look forward to becoming a part of this great tradition and contributing to its prosperity. We have found that when we share our passion for the highest-quality coffee available and the Starbucks Experience in a new market, we help the local specialty coffee industry flourish, benefiting consumers and other coffeehouses."
The Starbucks Experience is distinctive in that it provides partners (employees) and customers with daily inspiration through the human connection, innovative products and services, and a comfortable atmosphere. This experience extends well beyond Starbucks retail locations into the communities in which it operates.
"Contributing positively to our communities and environment is a fundamental part of the Starbucks culture," continued Hendrix. "That's why we are proud to be partnering with Maria Luisa and Peter Rodenbeck, the principals of Cafes Sereia do Brasil. They are as passionate about operating a successful business while giving back to society by supporting various programs to benefit others as we are."
Prior to creating Starbucks Brasil with Starbucks, the Rodenbecks successfully introduced several international retail brands to Brazil, including McDonald's and Outback Steakhouse. Additionally, Maria Luisa is a dedicated volunteer of Junior Achievement, an international non-profit organization that helps children and youngsters develop passion for business. Combining business acumen with passion to improve the world is complimentary to Starbucks tradition of engagement and commitment in communities in which the Company operates.
"I believe our partnership with Starbucks will greatly benefit the coffee industry in Brazil," said M.L. Rodenbeck. "Brazilians will have career opportunities with one of the most recognized brands in coffee, more premium-quality coffees to choose from, and a sophisticated and welcoming environment to enjoy connecting with friends and families while discovering new handcrafted beverages and food offerings. Additionally, we will be contributing to local communities where we operate, and the environment, not just in Brazil but throughout the world."
About Starbucks Coffee Company
Through the dedication of our passionate partners (employees), Starbucks Coffee Company has transformed the way people in 37 countries enjoy their coffee, one cup at a time. Starbucks is the premier purveyor of the finest coffee in the world, with more than 11,000 retail locations in North America, Latin America, Europe, the Middle East and the Pacific Rim. The Company is committed to offering its customers the highest quality coffee and human connection through the Starbucks Experience, while striving to improve the social, environmental and economic well being of its partners, coffee farmers, countries of coffee origin, and the communities which it serves. Through Ethos Water, Starbucks demonstrates its long history of integrating a social conscience into all aspects of its business. The Company surprises and delights its customers by producing and selling bottled Starbucks Frappuccino(R) coffee drinks, Starbucks DoubleShot(R) espresso drinks and Starbucks(R) superpremium ice creams through its joint-venture partnerships, and Starbucks(TM) Coffee and Cream Liqueurs through a marketing and distribution agreement, in other convenient locations outside its retail operations. The Company's brand portfolio includes superpremium Tazo(R) teas, Starbucks Hear Music(TM) compact discs, Seattle's Best Coffee and Torrefazione Italia. These brands' unique and innovative personalities allow Starbucks to appeal to a broad consumer base.
About Cafes Sereia do Brasil Participacoes S.A.
For approximately 30 years, Maria Luisa and Peter Rodenbeck, Cafes Sereia do Brasil Participacoes' principals, have been at the forefront of bringing and leading several international brands in Brazil. Prior to joining Outback Steakhouse Brazil as chief financial officer, Maria Luisa was actively involved in the hospitality industry with leadership positions at United Airlines and American Airlines. Peter is renowned for having successfully introduced McDonald's and Outback Steakhouse to the Brazilian market.
Alsea S.A. de CV., a leading operator of recognized global brands in Latin America, is an equity holder in Cafes Sereia do Brasil (Starbucks Brasil). Alsea is the leading Mexican restaurant company operating Starbucks, Dominos Pizza, Burger King, Popeye's Chicken & Seafood Grill & Bar in Mexico with more than 800 locations. Together with Starbucks Coffee International, Alsea began offering the Starbucks Experience to customers in Mexico in September, 2002. Alsea's extensive experience in introducing global brands to Latin America includes bringing Dominos Pizza to Brazil and Burger King to Argentina and Chile. The company stock is traded in the Mexican Stock Exchange under the symbol ALSEA*.
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| Last: |
35.89 |
| Time: |
6/9/2006 4:00pm |
| Change: |
-0.35 |
| Opened: |
36.15 |
| Day: |
36.49 - 35.82 |
| Volume: |
5300440 |
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