Alsea, the largest operator of fast food, coffee shop and casual dining restaurants in Latin America, now owns 100% of Starbucks Coffee Argentina after acquiring the remaining 18% interest that it did not already own.
The company made a similar move in Mexico earlier this year when it acquired the remaining 18% of Cafe Sirena, the Mexican company that operates the 382 Starbucks locations in Mexico. That announcement pushed the company’s shares to an all-time high in April.
On the other side of the Andes, the company also announced the acquisition of the remaining 82% interest in Starbucks Coffee Chile bringing the company’s ownership stake up to 100% in both Argentina (66 locations) and Chile (44 locations).
In total, Alsea now operates 492 Starbucks locations in Argentina, Chile and Mexico, three of the five Latin American countries where Starbucks operates. There are now three dozen Starbucks in Peru where the company has operated for a decade and 59 Starbucks in Brazil where new locations are opening on a pace similar to Argentina.
In addition to Starbucks and Burger King locations in Argentina, Alsea recently opened the country’s first P.F. Chang’s and is now considering bringing The Cheesecake Factory to Buenos Aires. (Full Story in Spanish)
For more information about investment opportunities in Argentina and Uruguay, simply complete the form below.