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Starbucks Signs Licensing Agreement With Brazil Investment Firm

Sao Paulo investment firm SouthRock Capital has signed an agreement with Starbucks that gives it the right to develop and operate branches of the Seattle-based chain in Brazil, the companies said late on Monday. With the agreement, whose value was not disclosed, all of Starbucks' retail operations in Latin America are now wholly licensed rather than directly managed, the companies said. SouthRock founder Ken Pope said in a statement the fund would eye expansion opportunities in new...

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