Starbucks to enter sub-Saharan Africa in partnership deal
Johannesburg
STARBUCKS Corp coffee shops will open in sub-Saharan Africa for the first time after the world leader partnered Johannesburg-based franchiser Taste Holdings Ltd, whose shares soared to an all-time high.
The two companies have signed an exclusive agreement to develop Starbucks outlets in South Africa from next year, Taste said on Tuesday. The company has the licence for as many as 25 years, a deal which includes rights to open in some other African countries.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Holiday Inn owner IHG’s Q1 revenue up 2.6%, leisure travel demand remains strong
WSJ moves Asia headquarters from Hong Kong to Singapore
South Korea to slap fines on food suppliers for ‘shrinkflation’
Olam outbids Dreyfus’ sweetened deal for Australia’s Namoi, raises offer to A$0.66 per share
Live Nation’s revenue beats estimates as boom in concerts drive ticket sales
Jim Beam owner bets on canned vodka cocktails to double revenue