Starbucks Coffee and Baristas Del Caribe, LLC,
an
affiliate of Empresas Fonalledas, a leading family-owned Puerto Rican
group of
companies, announced Wednesday that Baristas Del Caribe has acquired
exclusive
rights to operate Starbucks stores in Puerto Rico.
Through a strategic licensing agreement, Baristas Del Caribe will
leverage its
strong local market knowledge to further grow the Starbucks retail
business in Puerto Rico, building on more than a decade of brand
loyalty and trust.
“This
is the beginning of an exciting new chapter for Starbucks in Puerto
Rico,” said Rich Nelsen, senior vice president and general manager
for Starbucks Latin America. “By teaming up with Empresas Fonalledas we believe
we can position the Starbucks retail business for continued expansion in the
region and take the brand to even greater heights.”
Starbucks
opened its first store in San Juan, Puerto Rico in 2002 and today has 19 stores across the
island, employing more than 340 partners (employees). Upon successful
completion of the transaction, Baristas Del Caribe will assume full operating
control of Starbucks stores in Puerto Rico.
Baristas Del Caribe also plans to accelerate growth by developing new stores
over time.
“We are building on a strong foundation with Starbucks as our company’s Tres Monjitas brand currently serves as Starbucks fresh milk provider in Puerto Rico. Starbucks has also been part of our group of tenants in Plaza Las Américas for the last two years. We are thrilled to welcome Starbucks Puerto Rico partners to the Empresas Fonalledas family and look forward to continuing to work together to grow the Starbucks business here.”
“Since launching the brand in Latin America, we’ve grown to just over 880 stores across 15 markets, 14 of which are operated by trusted licensing partners,” added Nelsen. “We have a long and promising runway for growth in Latin America and collaborating with local partners is helping us leverage their proven market capabilities to create even greater value for both our customers and partners.”
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