- TM Capital served as exclusive financial advisor to Starbucks Corporation (NASDAQ:SBUX) in its sale of the exclusive right to operate Starbucks stores in Puerto Rico to Baristas Del Caribe, LLC, an affiliate of Puerto Rico-based, Empresas Fonalledas Inc.
- Starbucks opened its first store in San Juan, Puerto Rico in 2002 and today has 19 stores across the island, employing more than 340 individuals
- Starbucks Corporation, with revenues of approximately $16.5 billion, is the premier roaster and retailer of specialty coffee in the world with more than 21,000 stores globally
- Empresas Fonalledas Inc. is a leading family-owned Puerto Rican group of companies whose holdings include Plaza Las Americas (the largest shopping mall in the Caribbean), Vaquería Tres Monjitas (a fresh milk producer) and Soft & Creamy (a quick service ice cream chain)
- 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
has sold the exclusive right to operate
an affiliate of
Starbucks Sells Rights to Puerto Rico Restaurants
TM Capital served as exclusive financial advisor to Starbucks Corporation (NASDAQ:SBUX) in its sale of the Puerto Rico Operations to Baristas Del Caribe, LLC, an affiliate of Empresas Fonalledas Inc.
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TM Capital exceeded expectations as Starbucks' investment banker - truly acting as our trusted partner throughout a highly complex process and adopting our priorities, values and culture as their own. TM's understanding of restaurant industry transaction drivers and their expertise in navigating the complexities of cross-border corporate divestitures were extremely valuable to Starbucks in helping to identify a partner and negotiate a transaction that positions us for growth in Puerto Rico while creating meaningful opportunities for our local partners.”Ricardo Rico, VP Latin America Retail Operations, Starbucks Corporation