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Alsea SAB de CV Acquires Remaining 18% Of Cafe Sirena S. de R.L. de C.V. From Starbucks Coffee International


Monday, 1 Apr 2013 04:08pm EDT 

Alsea SAB de CV (Alsea) announced that it has acquired from Starbucks Coffee International (an affiliate of Starbucks Coffee Company) the remaining 18% of Cafe Sirena S. de R.L. de C.V. (Cafe Sirena), the Alsea subsidiary that operates Starbucks retail stores in Mexico. As a result of the March 27, 2013 transaction, Starbucks has agreed to provide Alsea 100% ownership of the Mexico business for the duration of the contract. The agreements include an option to expand Alsea‚Äôs rights to develop Starbucks retail stores in Mexico for an additional 10 years, which would extend exclusivity until the year 2037. Alsea also agreed to a new expansion plan of 50 store openings per year for the next five year. Subsequent to this period, the parties have agreed that they will review the continuation of a contractual expansion plan. 

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20 Oct 2014