Starbucks Invests In Italian Bakery Princi
Starbucks Corp. is investing in an Italian bakery and plans to expand it with new locations.
The company is buying a stake in Princi, which sells pastries, pizza and pasta in Europe. Starbucks will also act as a global licensee of the Italian company, helping it to expand globally. Financial terms of the deal weren't disclosed.
Princi goods will be sold in Starbucks' new Roastery locations that are opening in Shanghai next year and New York in 2018, as well as another location that hasn't yet been disclosed. Starbucks also may open a Princi-branded shop in its hometown of Seattle next year. Princi currently has four locations in Italy and one in London.
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