Starbucks licensee could exit onerous rentals

Starbucks warns its growth targets don’t preclude it from exiting unfavourable legacy leases

09 May 2021 - 00:04 By NICK WILSON

The South African company licensed to operate Starbucks in Southern Africa is ramping up expansion of the brand herewith deals for a further 15 new outlets brewing this year, but warns its growth targets don’t preclude it from exiting unfavourable legacy leases.

Adrian Maizey, who heads Rand Capital Coffee, which owns the Starbucks licence for Southern Africa, says these lease agreements are those that carry high, escalating rentals “where landlords are not open to finding a mutually beneficial path forward”...

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