BOGOTA (Reuters) – Colombian processed food company Nutresa said it sold its 30% stake in the country’s Starbucks franchise operator to a unit of Mexican restaurant chain Alsea.
In a statement on Monday night, Nutresa said it had signed a contract with Alsea unit Cafe Sirena in which it agreed “to sell all the shares in held in Estrella Andina, corresponding to 30% of outstanding shares in the company.”
Nutresa, which sells processed foods worldwide including coffee, pasta and cookies, did not detail the value of the deal. Neither company immediately responded to requests for more details.
Nutresa had since 2013 held shares in Estrella Andina, the operator of Starbucks franchises in Colombia. As of March, Estrella Andina had 72 Starbucks stores in Colombia.
Mexico City-based Alsea has long operated franchises for brands including Starbucks, Domino’s Pizza and Burger King, across Latin America and Western Europe.
(Reporting by Nelson Bocanegra; Writing by Sarah Morland; Editing by Aida Pelaez-Fernandez and Bill Berkrot)
Comments