Starbucks Coffee Company (NASDAQ:SBUX) today announced it is continuing
to broaden the company’s presence in Latin America, sharing new store
plans for Colombia, Bolivia and Panama over the course of the next year
through licensed agreements with long-time business partners.
“Starbucks relationship with Latin America dates back to 1971 when we
began buying coffee from the region. Today we source more than half of
our coffee from Latin American countries,” said Cliff Burrows, group
president, Starbucks Americas, U.S., and Teavana. “We see significant
opportunity to grow our retail presence beyond the more than 740 stores
and 10,000 partners we currently have in 12 countries in the region in a
way that will continue to celebrate the region’s rich coffee heritage
while also deepening our relationships with each of the communities we
serve.”
Starbucks confirmed that it is on track to open its first café in
Colombia in Bogota in mid-summer 2014 through a joint venture between
two of its longest-term business partners in the Latin America region –
Alsea and Grupo Nutresa. Over the next five years, the joint venture
plans to expand aggressively in Bogota and to other major cities in
Colombia. Alsea has partnered with Starbucks for more than 11 years in
the region and currently operates more than 500 Starbucks stores in
México, Argentina and Chile, employing a total of more than 8,000
partners (employees). Colcafe, a subsidiary of Grupo Nutresa, Colombia’s
leading food company, worked with Starbucks to create Starbucks VIA®
Ready Brew soluble coffee and continues to be an innovative, strategic
partner in manufacturing and now retail. Colcafe and Starbucks are
expanding their manufacturing relationship to offer Colombian customers
locally sourced and roasted espresso, drip and packaged Colombian coffee
at Starbucks stores in Colombia.
Following the Colombia opening later in 2014, Delosi, Starbucks
long-time business partner in the Andean region, plans to open Starbucks
first store in Bolivia in the commercial center of Santa Cruz through
its subsidiary Delosur. Delosi currently operates 71 restaurants,
employing more than 1,000 people in the Andean region. Starbucks and
Delosi see an opportunity to add up to 10 stores in Bolivia over the
next several years.
In early 2015, Corporación de Franquicias Americanas (CFA), Starbucks
long-time Central America business partner, will open Starbucks first
store in Panama. Currently, CFA operates more than 500 restaurants in
Mexico and Central America, employing more than 12,000 people. With
Starbucks, CFA operates 5 stores in El Salvador, 4 stores in Costa Rica,
and 4 stores in Guatemala, employing more than 175 partners. Over the
long term, Starbucks and CFA plan to open more than 20 stores in Panama.
About Starbucks
Since 1971, Starbucks Coffee Company has been committed to ethically
sourcing and roasting high-quality arabica coffee. Today, with stores
around the globe, the company is the premier roaster and retailer of
specialty coffee in the world. Through our unwavering commitment to
excellence and our guiding principles, we bring the unique Starbucks
Experience to life for every customer through every cup. To share in the
experience, please visit us in our stores or online at news.starbucks.com.
Copyright Business Wire 2014