Restaurant Brands New Zealand Ltd said on Monday it would not renew its licence deal with Starbucks Corp when it expires in October. The fast-food company said in a statement it had sold fixed assets and stock related to its deal with Starbucks Coffee International, Inc to New-Zealand based Tahua Capital for NZ$4.4 million ($2.9 million). Restaurant Brands intends on focusing on its core businesses of quick-service restaurant brands and said the Starbucks Coffee business was “becoming less relevant to the company’s overall direction”. …read more
Source:: Yahoo Finance
