SAO PAULO, August 19, 2010 - Starbucks Corporation (NASDAQ:SBUX)announced today that it has assumed 100 percent ownership and operating control of Starbucks Brazil through the acquisition of Cafés Sereia do Brasil ParticipaÃÂ§ÃÂµes S.A. Converting the market to a company-operated business allows Starbucks to focus on the enormous opportunity in Brazil through pursuing thoughtful growth while continuing to deliver unparalleled customer experience in the largest consumer market in South America.
"Cafes Sereia and its partners have been committed to creating the Starbucks Experience for our customers in Brazil," said Pablo Arizmendi, vice president, general manager, Starbucks Coffee Latin America. "We are grateful for Maria Luisa Rodenbeck's dedication, talent and entrepreneurial spirit which brought Starbucks to Brazil and the continued partnership of Peter Rodenbeck and Cafés Sereia for establishing Starbucks as a trusted and respected brand in Brazil."
The leadership team currently in place will continue to manage the business on a day to day basis ensuring a seamless transition for customers, partners (employees) and other stakeholders.
"We have been an active member of local communities throughout Brazil since 2006," said Ricardo Carvalheira, managing director Starbucks Brazil. "As a result of all our dedicated partners we made strong inroads that position us perfectly for continued growth in the market and we are deeply committed to the potential that it offers."
"With more than 20 stores throughout Brazil, we are excited about the opportunities this presents for the company, partners, customers and the Brazilian community," added Carvalheira.
The acquisition is part of Starbucks commitment to its international business as a key future growth engine for the company as well as the communities we operate in, from the neighborhoods where our stores are located to the fields where our coffee is grown.
About Starbucks Corporation
Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting the highest quality arabica coffee in the world. 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 www.starbucks.com.