New Starbucks owners hope smaller is better
The new owners of Starbucks SA are going big with plans to grow the business, aiming to have 75 stores in the next five years, which would give the business more muscle to negotiate with suppliers.
Starbucks SA has 17 stores, of which four were opened in the past week alone. Starbucks SA is now operated by the Rand Group, headed by Adrian Maizey. Taste Holdings sold its 13 Starbucks stores to Rand Group for R7m, which came with contingent liabilities and working capital requirements of about R300m.