Alsea signs the contract for the exclusive development of the Starbucks brand in Uruguay
Alsea, SAB de C.V. (BMV: ALSEA *) the leading operator of Quick Service Restaurants, Coffee Shops, and Casual Dining establishments in Latin America and Spain announces that it signed the agreement with Starbucks Coffee International, Inc. to operate and develop exclusively Starbucks stores in Uruguay. This agreement represents the expansion of Alsea in a new South American market, starting operations in early 2018.
Federico Tejado, Chief Executive Officer of Alsea International commented: “I am pleased to announce the entry of Alsea into a new market such as Uruguay, which allows us to continue with our solid growth strategy, reinforcing the presence of our brands in the region. We will capitalize on our knowledge of the Starbucks brand, which we have operated for 15 years now and of which we currently have 841 stores operating in four countries.”