Industry News | November 16, 2007

Starbucks Moves In to Argentina

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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.

In addition to opening and operating stores in Argentina, Alsea, Starbucks partner in Argentina, 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.