Starbucks To Acquire Half Of Barnie’s Locations
Starbucks Corp. said it is buying 56 Barnie’s Coffee & Tea Co. locations, most of them in Florida. There is no indication as to how the sale will affect Winter Park-based Barnie’s or its future. Barnie’s executives did not return repeated requests for comment about the sale.
Barnie’s, at last report, said it had more than 100 company-owned and franchised retail locations domestically and internationally. The company reported revenue of $67.3 million for its most recent fiscal year.
Alan Hilowitz, a Starbucks (NASDAQ: SBUX) spokesman, said the agreement is strictly a real estate transaction and none of Barnie’s inventory or branded products are involved in the deal.
Seattle-based Starbucks operates and franchises more than 11,000 retail locations in North America, Latin America, Europe, the Middle East and the Pacific Rim.
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