Starbucks Corporation to get new New Zealand licence partner

By Laura Mullan
Starbucks Corporation will have a new partner in New Zealand after its license owner, Restaurant Brands New Zealand, said that it will not renew its dea...

Starbucks Corporation will have a new partner in New Zealand after its license owner, Restaurant Brands New Zealand, said that it will not renew its deal with the coffee chain.

The New Zealand subsidiary of Restaurant Brands Inc. — which owns chains such as KFC, PIzza Hut, Carl’s Jr.’s — said that it will not renew its licence deal with Starbucks as it intended to focus on its core fast-food operations.

SEE ALSO:

Ted van Arkel, Chairman of Restaurant Brands, said: “While the Starbucks business had provided a steady contribution to the group over a number of years, it was becoming less relevant to the company's overall direction as it looked to further expand its core quick service restaurant brands in New Zealand and overseas." 

Starbucks Corporation will continue to operate in New Zealand after investment firm Tahua Capital bought the domestic Starbucks’ license for NZ$4.4 million ($2.9 million).

“Both Tahua and Starbucks share similar values about high-quality coffee, engaged partners (employees) and a passion to create positive change in the communities they serve,” said Charles Belcher, CEO of Tahua Capital.

Tahua Capital said it would seek to secure leases for Restaurant Brands’ 22 Starbucks stores and would continue to employ all 300 current employees.
 

Share

Featured Articles

Livestock data management platform Breedr raises £12mn

Breedr helps farmers improve their livestock productivity & sustainability. Investbridge Capital led a £12mn funding round to build better farm trading

Coca-Cola, Diginex & Reckitt tech to support supply chains

Respect for human rights is critical to good business, says Coca-Cola’s Paul Lalli, as the company joins diginexLUMEN to catch supply chain forced labour

Luxury food manufacturer Venchi on sustainable packaging

Cècile Osti, of luxury chocolate manufacturer Venchi, on Easter 2022, Sorrento lemons, sustainable packaging, natural ingredients & the pleasure of food

How has the pandemic affected sales at General Mills?

Food

Morrisons partners with Nestle in sustainability scheme

Retail

PepsiCo Launches pep+ a Strategic End-to-End Transformation

Drink