Baristas Del Caribe acquires exclusive rights to operate Starbucks® stores in Puerto Rico

New agreement will give Baristas Del Caribe, LLC, an affiliate of leading family-owned Puerto Rican group of companies Empresas Fonalledas, exclusive rights to operate Starbucks® stores in Puerto Rico, building on more than a decade of brand loyalty and trust 

SAN JUAN, Puerto Rico, 2015-8-20— /EPR Retail News/ — Starbucks Coffee Company and Baristas Del Caribe, LLC,  an affiliate of Empresas Fonalledas, a leading family-owned Puerto Rican group of companies, today announced 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. “Baristas Del Caribe is part of highly respected family-run group of companies that shares Starbucks foundational values of driving performance through the lens of humanity, as demonstrated by their strong history of investing in people, delivering an exceptional experience to customers, and creating opportunities for the communities they serve. 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, delivering the same exceptional service and high-quality, handcrafted beverages that customers have come to expect. Baristas Del Caribe also plans to accelerate growth by developing new stores over time.

“This agreement is not only a vote of confidence from Starbucks, but an opportunity to combine our expertise in the areas of commercial real estate, retail operations, and high quality products, with our in-depth knowledge of the market to further drive growth and profitability for one of the most respected brands in the world,” said Jaime Luis Fonalledas, Executive Vice President of Empresas Fonalledas Inc.  “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. We are proud to add Baristas Del Caribe to our strong network of licensing partners in Latin America and are confident that their operational excellence, combined with our shared values, will help open up exciting new opportunities ahead.”

View this press release in Spanish here.

About Empresas Fonalledas Inc.
Empresas Fonalledas Inc. (“EFI”) is part of a privately owned group of companies in Puerto Rico, with a tradition of quality business enterprises dating back to the late 1800s.  Over the years, the group has managed  holdings in urban, suburban and rural properties to dairy cattle operations, a milk processing plant, non-dairy food industries, plastics manufacturing, office buildings, banking operations both home and abroad, commercial and residential properties, and shopping centers. The portfolio of companies includes amongst others: the shopping centers  Plaza Las Americas and Plaza Del Caribe; Office Buildings Torre Chardon, Parque Las Américas and Torre de Plaza; a Fresh Milk Plant Vaquería Tres Monjitas, Ganaderías Fonalledas and a soft ice cream Quick Service Restaurant (“QSR”) – Soft & Creamy. Empresas Fonalledas and its sisters companies, support multiple philanthropic organizations and are committed to the improvement of the communities on which they serve.

About Starbucks
Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Today, with more than 21,000 stores around the globe, Starbucks 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 our stores or online at Starbucks.com and news.starbucks.com.

Forward-Looking Statements

Certain statements contained in this release are “forward-looking statements” within the meaning of applicable securities laws and regulations, including statements about market growth and store count projections. Such forward-looking statements are based on current management expectations and satisfactions of certain conditions that are subject to various risks and uncertainties, including market conditions and those risks detailed in the Company’s filings with the Securities and Exchange Commission, including the “Risk Factors” section of the Starbucks Annual Report on Form 10-K for the fiscal year ended September 28, 2014, and the prospectus and prospectus supplement delivered in connection with the public offering of senior notes discussed in this release. The company assumes no obligation to update any of these forward-looking statements.

For more information on this news release, contact us.

SOURCE: Starbucks Coffee Company

Starbucks Coffee Company with Premium Restaurants of America opened its first store in Panama; Starbucks 15th market in Latin America

  • 20 stores expected to open in Panama City over next five years with Premium Restaurants of America, Starbucks long-term licensing partner in Central America
  • Building on over a decade of sourcing coffee from Panama, Starbucks stores in Panama City will feature Starbucks® premium, single-origin Starbucks Reserve Panama Carmen Estate coffee, sourced from Panama’s Volcán Chiriquí Valley
  • Starbucks Panama comes together with Municipality of Panama City and Glasswing International to restore local community center for youth

PANAMA CITY, Panama, 2015-8-7— /EPR Retail News/ —  Starbucks Coffee Company (NASDAQ: SBUX), together with Premium Restaurants of America (PRA), its long-term strategic licensing partner in Central America, today opened its first store in Panama, making it Starbucks 15th market in Latin America and 67th worldwide. Located in Panama City’s Street Mall shopping center, the new store proudly features Starbucks Reserve™ Panama Carmen Estate coffee, part of the company’s exclusive Starbucks Reserve collection of unique, small-batch coffees.

“We are proud to bring the Starbucks Experience to customers in Panama and build our brand in a way that honors the coffee passion and traditions inherent to this region,” said Rich Nelsen, senior vice president and general manager for Starbucks in Latin America, where the company now has more than 880 stores employing over 12,000 partners (employees). “By extending our relationship with Premium Restaurants of America, we are diligently positioning the brand for continued growth in Latin America as we enter our 15th market in the region.”

Starbucks stores in Panama are operated through a strategic licensing agreement with El Salvador-based Premium Restaurants of America (PRA), formerly named Corporación de Franquicias Americanas (CFA), which initially teamed up with Starbucks in 2010 for the opening of the company’s first store in San Salvador. Since then PRA has opened 19 Starbucks stores, with eight in El Salvador, five in Guatemala, five in Costa Rica and one opening today in Panama, employing more than 340 partners across the region. Together, Starbucks and PRA plan to open at least 20 stores in Panama City over the next five years.

“We are honored to be Starbucks strategic partner in Central America,” said Francisco Alemán, General Director for Central America at PRA. “Our local market knowledge combined with our proven track record of operating Starbucks® stores will allow us to offer an exceptional experience to Panamanian customers. With the arrival of Starbucks in Panama, we are confident that we can continue to drive growth in the region by bringing customers a truly unique retail experience.”

Starbucks Reserve™ Panama Carmen Estate Coffee, Now Available in Panama City

To mark the launch of Starbucks in Panama, Starbucks stores in the country will feature Starbucks Reserve™  Panama Carmen Estate coffee, a bright and nutty-sweet coffee grown in Panama’s Volcán Chiriquí Valley, where coffee producer Carlos Aguilera produces some of the world’s most renowned specialty coffees on his award-winning, family estate. Starbucks has featured coffee from farms in Panama like Carmen Estate, Los Cantares Estate, La Florentina, San Benito and Hacienda La Esmeralda since 2000 for customers to enjoy in select locations in the U.S. and is now proud to offer Starbucks Reserve™ Panama Carmen Estate Coffee in its new stores in Panama City.

“Starbucks has a long history of working with coffee growers like Carlos Aguilera across Central America and we are thrilled to now share that story here,” said David Batres, managing director for Starbucks Central America. “Our customers in Panama City have a strong appreciation for coffee and I believe we’ve created a unique destination between home and work where they can relax in our beautiful store, discover Starbucks® signature coffees from around the world, or enjoy a bag of our local Starbucks Reserve™  Panama Carmen Estate coffee to take home to share with friends and family.”

Only three other markets in Latin America currently offer whole bean packaged Starbucks Reserve™  coffees in select stores for limited times, including Colombia, Mexico, and Brazil. From the mountains of Nicaragua, to faraway highlands in Papua New Guinea, to the valleys of Panama – these coffees are hand selected by some of Starbucks most experienced coffee buyers.

Starbucks Panama Celebrates Coffee Passion through Design

The Starbucks store at Street Mall offers customers an inviting destination to relax, recharge, and connect in one of Panama City’s most cosmopolitan commercial neighborhoods while enjoying Starbucks® signature brewed, espresso and blended beverages. Starbucks Latin America design team spent many months transforming the 3,304 sq. ft. space into a celebration of the Starbucks coffee journey, from its first location in Seattle’s Pike Place Market, as highlighted in the store’s artwork, to Panama’s Paso Ancho and Los Cantares coffee-growing regions in the Volcán Chiriquí Valley, depicted across a large hand-painted mural on a locally-sourced, wood-clad wall.

With a 28 ft. high ceiling, the focal point of the store is a one-of-a-kind custom made hanging mobile, designed to represent the Geisha coffee plant, which signifies the birth of the coffee industry in Panama. The store is dotted with beautiful images of Panama’s coffee farms and also features tile work resembling a hand painted style unique to the local culture. Starbucks also incorporated design elements from neighboring regions, including furniture from Colombia and wood slatted light fixtures from Brazil.

“Latin America has been part of Starbucks story from the very beginning,” said Scott Mitchem, Starbucks director of design for Latin America. “Our store designs pay tribute to the region’s heritage and culture by working with local inspirations, artists and designers. We wanted to bring that same passion to the design of our first store in Panama.”

Supporting Opportunities for Youth in Panama City

As part of Starbucks global commitment to creating opportunities for young people in the communities it serves, Starbucks Panama is collaborating with Panama City´s Municipality and nonprofit organization Glasswing International in a long-term project to renew and support a community center in Boca La Caja in Panama City. The first stage of this project will include restoring the center’s infrastructure and refurbishing the building. Once the center is open, Starbucks Panama partners (employees) will continue to engage in community service, supporting various clubs and activities aimed at fostering youth leadership. The program is expected to benefit more than 2,400 youth in Panama City.

View this story in Spanish (Español) here.

About Starbucks

Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-qualityarabica 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 www.starbucks.com.

About Premium Restaurants of America
With headquarters in El Salvador, Premium Restaurants of America –PRA- (previously Corporación de Franquicias Americanas – CFA) operates more than 500 restaurants in Mexico and Central America, employing more than 12,000 people.  International companies such as Pizza Hut, KFC, Wendy’s and China Wok have relied on CFA for the operation of their brands. With Starbucks, PRA operates eight stores in El Salvador, five stores in Costa Rica, five stores in Guatemala, and one in Panama, employing more than 340 partners.

For more information on this news release, contact us.

 

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Starbucks Coffee Company with Premium Restaurants of America opened its first store in Panama; Starbucks 15th market in Latin America

Starbucks Coffee Company with Premium Restaurants of America opened its first store in Panama; Starbucks 15th market in Latin America