Brazilian BK Owner to Acquire Local Starbucks for R$120 Million

07 Jun, 2024

Brazilian BK Owner to Acquire Local Starbucks for R$120 Million

Zamp, the owner of Burger King and Popeyes restaurants in Brazil, announced on Thursday that it signed an agreement with SouthRock to acquire the Starbucks Brasil assets for R$120 million. The acquisition involves some assets and rights that comprise the Starbucks stores’ operations in Brazil. These will be integrated into the capital of a new company to be incorporated by SouthRock.

The operation will take place through a competitive process, in the form of closed proposals, under the ongoing SouthRock court-supervised reorganization. Zamp will act as a leader and be able to match any offers and receive compensation if it doesn’t win the competitive process for Starbucks Brasil’s assets.

The company also informed it reached an agreement with Starbucks regarding the terms and conditions of the main contracts for exploring the brand and developing operations in the country. The operation is pending authorization from the SouthRock court-supervised reorganization court, the signing of a final agreement with Starbucks, and approval by the antitrust regulator CADE.