Starbucks Coffee Company (Nasdaq: SBUX) today announced that it has
signed a joint-venture agreement with Alsea S.A. de C.V. to form Café
Sirena S.R.L. Café Sirena S.R.L. will operate
Starbucks retail locations throughout Argentina, with the first store
scheduled to open in Buenos Aires in the second half of fiscal 2008.
When the store is opened, customers in Argentina will be able to share
in the enjoyment of Starbucks specialty coffee and legendary service
with more than 48 million customer visits per week throughout the world.
"Starbucks is humbled and honored to be
welcomed into Argentina, a country with a rich coffeehouse culture,”
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 provides Argentine customers and
partners (employees) with daily inspiration through the human
connection, innovative products and services, and a comfortable
atmosphere. This experience extends well beyond Starbucks coffeehouse
locations into the communities in which it operates.
"Contributing positively to communities and
the environment is a fundamental part of both Starbucks and Alsea’s
culture,” states Alberto Torrado, Chief
Executive Officer of Alsea, Starbucks partner in Argentina. "That’s
why we are proud to be partnering together again. Both companies are
passionate about operating a successful business while giving back to
programs that benefit others.”
In addition to opening and operating stores in Argentina, Alsea is also
partnering with Starbucks in Chile to further develop the brand in this
country. With this partnership, Starbucks and Alsea are looking to
replicate in these countries the successful development of the Starbucks
brand in Mexico, where through the first joint venture in the region, Café
Sirena S. de R.L. de C.V., over 150 stores in five years have been
opened.
About Starbucks
Starbucks Coffee Company provides an uplifting experience that enriches
people’s lives one moment, one human being,
one extraordinary cup of coffee at a time. To share in the experience,
visit www.starbucks.com.
About Alsea
Alsea is the leading restaurant operator in Latin America, operating
global brands of proven success such as Domino’s
Pizza, Starbucks Coffee, Burger King, Popeyes and Chili’s
Grill & Bar. Its multi-unit operation is backed by its Shared Services
Center, including the supply chain through DIA, real estate and
development services, as well as administrative services such as
finances, human resources and technology.
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