US based Starbucks Corporation Friday announced the completion of a deal that will see it acquire Starbucks Brazil. In the deal, Starbucks Corporation will acquire 100% ownership and another 100% operating control of Brazil’s Starbucks via a takeover of Cafes Sereia do Brasil Participacoes SA. The move is aimed at expanding its foothold into the large Brazilian market.

In a statement, the US based giant said the Brazilian firm’s current management team will be retained and will run the business until the takeover is fully complete. Analysts believe turning the Brazilian venture into a company run business stands to enable Starbucks get access to Brazil’s huge consumer market. Currently, the Brazilian consumer market is considered the biggest in Latin America.

Pablo Arimendi, vice president and general manager, Starbucks Coffee Latin America said Cafes Sereia and its partners have been committed to creating the Starbucks experience for Brazilian clients. As such, the firm was delighted for the efforts that have established the Brazilian Starbucks business as a trusted and respected brand, he said.

He further reiterated that the firm had been an active member of the local Brazilian communities and had subsequently gained robust inroads that place it at a better position for carrying out continued growth. In that regard, he said Starbucks will continue to seek growth opportunities with a commitment to the prospects in the Brazilian market. Currently, Starbucks has 20 stores all over Brazil and the acquisition represents new opportunities for the firm, its partners, customers and the Brazilian consumers.

The fresh investment is part of Starbucks Corp.’s drive towards further growth to its global business. Global business is a core future growth engine for Starbucks as well as its communities, from which it does its business, from coffee fields to local stores, said the manager. Starbucks Corporation is an international coffee and coffeehouse chain based in Seattle, Washington, United States.

Starbucks is the largest coffeehouse company in the world, with 17,133 stores in 49 countries, including 11,068 in the United States, nearly 1,000 in Canada and more than 800 in Japan. Starbucks sells drip brewed coffee, espresso-based hot drinks, other hot and cold drinks, coffee beans, salads, hot and cold sandwiches and Panini, pastry, snacks, and items such as mugs and tumblers. Today, with stores around the globe, the company is the premier roaster and retailer of specialty coffee in the world.

20 Aug 2010.