Starbucks takes over Brazil operations

As part of its international expansion plan Starbucks has acquired complete control of its Brazilian

Starbucks said that it has assumed 100% ownership and operating control of Starbucks Brazil through the acquisition of Cafes Sereia do Brasil Participaçoes as part of its international expansion plan.

The company believes that converting the market to a company-operated business allows it to focus on the opportunity in Brazil through pursuing growth while continuing to deliver customer experience in the consumer market in South America.

Starbucks Coffee Latin America vice president, general manager Pablo Arizmendi said that Cafes Sereia and its partners have been committed to creating the Starbucks experience for our customers in Brazil.

"We are grateful for Maria Luisa Rodenbeck's dedication, talent and entrepreneurial spirit which brought Starbucks to Brazil and the continued partnership of Peter Rodenbeck and Cafes Sereia for establishing Starbucks as a trusted and respected brand in Brazil," Arizmendi said.