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Mexico's Alsea to invest $225 mln in Starbucks stores by 2026

Reuters
·1 min read

MEXICO CITY, Sept 5 (Reuters) - Mexican restaurant operator Alsea will invest 4.5 billion Mexican pesos ($225 million) in coffee chain Starbucks by 2026, it said Monday.

The company, whose franchises include Starbucks, Domino's Pizza and Burger King in several countries, said during an event to celebrate Starbucks' 20th anniversary in the country it would open 200 new stores in Mexico by 2026. Alsea also plans remodeling, maintenance and strategic projects with the coffee brand, it added.

Alsea said it hopes the investment will directly create more than 2,600 jobs.

Starbucks, which began operations in Mexico in 2002, has 753 stores and more than 10,000 employees in the country, Alsea said. ($1 = 20.0003 Mexican pesos) (Reporting by Carolina Pulice and Diego Ore; Editing by Richard Chang)