NZ’s Restaurant Brands to exit Starbucks business in New Zealand
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 […]
