Colombian Processed Food Producer Divests from Starbucks Partnership
Nutresa, a Colombian producer of processed foods, announced the sale of its 30% stake in the Starbucks franchise within the South American country to its Mexican restaurant partner, Alsea.
Details of the Transaction
The financial terms of the sale were not disclosed. Nutresa’s divestment pertains to its participation in the Estrella Andina joint venture, which operates Starbucks stores in Colombia since 2013.
In a press release, Nutresa stated: “Nutresa entered into a stock purchase agreement with Café Sirena (a Mexican company that is part of the Alsea Group) to sell all of its shares in the Estrella Andina joint venture, representing 30% of the circulating shares in that company.”
About Alsea and Its Reach
Alsea, operating in Mexico, Spain, and Latin America, runs restaurant chains for brands such as Domino’s Pizza, Burger King, and others. The company’s extensive reach in the restaurant industry complements its new partnership with Nutresa.
As of March this year, Estrella Andina operated 72 Starbucks stores in Colombia.
Nutresa’s Global Presence
With a direct presence in 17 countries across five continents, Nutresa operates 47 production plants that manufacture products available in 82 countries. This global footprint underscores Nutresa’s significant role in the international food industry.
Key Questions and Answers
- Who is Nutresa? Nutresa is a Colombian company specializing in the production of processed foods, with operations spanning across 17 countries and products available in 82 nations.
- What is the significance of this sale? Nutresa divested its 30% stake in the Starbucks franchise in Colombia to Alsea, a Mexican restaurant group with operations in Mexico, Spain, and Latin America. This move allows Nutresa to focus on its core competencies while enabling Alsea to expand its restaurant portfolio.
- Why is Alsea relevant in this context? Alsea, known for operating restaurant chains like Domino’s Pizza and Burger King, brings extensive experience in the food service industry. The acquisition of Nutresa’s 30% stake in the Starbucks franchise strengthens Alsea’s presence and diversifies its offerings.
- How does this impact Starbucks in Colombia? The transaction does not affect Starbucks’ operations in Colombia, as Estrella Andina, the joint venture between Nutresa and Alsea, will continue to manage 72 Starbucks stores in the country.
