Restaurant Brands exits Starbucks Coffee chain, sells assets to local buyer for $4.4M

Sun, 02 Sep 2018

By Tina Morrison Sept. 3 (BusinessDesk) - Restaurant Brands New Zealand is exiting its Starbucks coffee business after two decades of operation after the US brand failed to take off as anticipated. It's selling the fixed assets of the chain for up to $4.4 million to local hospitality business Tahua Capital. Auckland-based Restaurant Brands said it won't renew its licence agreement with Starbucks Coffee International, Inc. (SCI) when it expires next month. Tahua will enter into a new licence agreement with SCI, commit to a substantial stor...

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