Starbucks Coffee Company
) entered into a joint venture with its long-term business partners
Alsea and Grupo Nutresa, to open its first store in Parque de la 93
in Bogota, Colombia.
The new store is the first in Latin America to offer Starbucks
Reserve Coffee and the Clover Brewing System. It is also the first
store to use locally grown coffee.
The Starbucks Reserve is a collection of arabica coffees offered in
select stores for limited periods. The Parque de la 93 store will
offer five different varieties of Colombian coffee, namely
Starbucks Reserve Colombia El Peñol, the single-origin Colombia
Nariño, Colombia Espresso, Colombia Espresso Decaf and Colombia
Blend. Customers will also be offered whole bean packaged coffee
from other markets across the world.
The Clover Brewing System is the latest innovation in coffee
brewing that adds new layers and dimensions to the coffee's aroma,
flavor, body and acidity. This brewing system is available in only
Starbucks has been purchasing Colombian arabica coffee for over
four decades. The company currently has over 700 stores across 13
markets in Latin America. The recent addition will further
strengthen the company's presence in the region. The company
intends to add 50 stores in Bogota and other major cities across
Colombia over the next five years. Further, the company has plans
to expand its Latin American presence by opening stores in Bolivia
and Panama this year and early next year
Starbucks has maintained its long-term commitments towards the
coffee farmers in Colombia. Starbucks is into a public-private
partnership with the U.S. Agency for International Development
(USAID) to invest $3 million to improve Colombian coffee yields and
offer better opportunities for Colombian farmers.
Starbucks in partnership with the Grameen Foundation and
Coocafisa Cooperative de Salgar uses tablets and mobile technology
to improve agronomy practices among small coffee producers in
Antioquia, Colombia. Starbucks, along with Alsea and Nutresa, has
also made a financial donation to a non-profit Youth Leadership
Training Program to help Bogota public high school students.
Starbucks carries a Zacks Rank #2 (Buy).
Investors interested in the food industry can also consider stocks
Red Robin Gourmet Burgers Inc.
Bloomin' Brands, Inc.
Chipotle Mexican Grill, Inc.
). While Red Robin sports a Zacks Rank #1 (Strong Buy). Bloomin'
Brands, and Chipotle carry a Zacks Rank #2.
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STARBUCKS CORP (SBUX): Free Stock Analysis
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