Starbucks to expand Puerto Rican presence
San Juan – Puerto Rico calls to many with warm weather, beautiful beaches and friendly people. The U.S. island territory is also calling to Starbucks Corp., who is answering with a new franchise deal that will significantly expand its Puerto Rican presence.
Starbucks has signed a licensing agreement with Baristas Del Caribe LLC, an affiliate of Puerto Rican conglomerate Empresas Fonalledas. Starbucks opened its first store in San Juan, in 2002 and today has 19 stores across the island, employing more than 340 employees.
Upon successful completion of the transaction, Baristas Del Caribe will assume full operating control of Starbucks stores in Puerto Rico. Baristas Del Caribe also plans to accelerate growth by developing new stores over time.
Starbucks operates 880 stores across 15 markets in Latin America, The retailer entered Panama, its 15th Latin American market, earlier this month.