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Starbucks Changes Ownership in Panama

Caribbean Coffee Traders Limited will operate from August 1st the 11 coffee shops that in the country operate under the Starbucks brand.

Thursday, July 23, 2020

Starbucks executives for Latin America and the Caribbean informed that Caribbean Coffee Traders Limited (CCTL) is managed by businessmen Adam Stewart and Ian Dear, who have a license that leads Starbucks operations in three Caribbean markets, Jamaica, the Cayman Islands and the Turks and Caicos Islands.

See "Coffee: Potential Market and Consumer Preferences."

Ricardo Rico, Starbucks vice president and general manager for Latin America and the Caribbean, told Laestrella.com.pa that "... We are focused on expanding our alliance with Caribbean Coffee Traders Limited through Starbucks Panama, and on beginning this new chapter."

Rico added that "... Starbucks, which arrived in the country five years ago, currently has eleven stores in Panama and over eighty partners. We are confident that this will bring new growth opportunities for all."

According to studies by CentralAmericaData, in the Panamanian coffee market consumers associate the product with the types of latte and cappuccino drinks.

https://www.centralamericadata.com/en/article/main/Starbucks_Changes_Ownership_in_Panama

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Caribbean Coffe Traders Limited adquiere las cafeterías Starbucks en Panamá

Hasta la fecha Starbucks tiene once tiendas en el país y más de ochenta partners. A partir del 1 de agosto comenzará a operar con la licencia de CCTL

Por Mirta Rodríguez P.

5d9e07ba30ae5.jpeg

Las cafeterías Starbucks tienen cinco años de presencia en  Panamá.Archivo / La Estrella de Panamá

Caribbean Coffee Traders Limited (CCTL)  operará  las cafetería Starbucks en Panamá desde el próximo 1 de agosto, a través de su recién adquirida división, Inversiones Panamericanas de Café de Panamá, informó Ricardo Rico,  vicepresidente y gerente general de Starbucks para América Latina y El Caribe.

“Estamos emocionados de expandir nuestra alianza con Caribbean Coffee Traders Limited a través de Starbucks Panamá, y de comenzar este nuevo capítulo juntos", expresó Rico, sin precisar mayores detalles de la nueva adquisición.

Y es que según explicó el ejecutivo, CCTL, dirigido por los empresarios Adam Stewart e Ian Dear, es una licencia que lidera las operaciones de Starbucks en tres mercados del Caribe, Jamaica, las Islas Caimán y las Islas Turcas y Caicos.

También opera Margaritaville Caribbean Group, Sandals Resorts e Island Routes, y tiene bajo sus hombros más 25 años de experiencia en el sector de retail y hospitalidad. Ahora, bajo el liderazgo de Sofía Moreno, country manager en el país, esperan seguir creciendo en el mercado panameño.

Starbucks, que llegó al país hace cinco años, a la fecha  tiene  once tiendas en Panamá  y  cuenta con más de ochenta partners. 

Con esta alianza"confiamos en que esto traerá nuevas oportunidades de crecimiento para todos”, puntualizó Rico.

 

Moderator comment: Below is an unedited automated translation of the above news article.

Quote

Caribbean Coffe Traders Limited acquires Starbucks coffee shops in Panama

To date Starbucks has eleven stores in the country and more than eighty partners. Starting August 1, it will start operating with the CCTL license

By Mirta Rodríguez P.
Updated 07/21/2020 16:16

<<5d9e07ba30ae5.jpeg>>

Starbucks coffee shops have been present in Panama for five years.Archivo / La Estrella de Panamá

Caribbean Coffee Traders Limited (CCTL) will operate Starbucks coffee shops in Panama from August 1, through its recently acquired division, Panamerican Coffee Investments of Panama, reported Ricardo Rico, vice president and general manager of Starbucks for Latin America and El Caribbean.

"We are excited to expand our alliance with Caribbean Coffee Traders Limited through Starbucks Panama, and to start this new chapter together," said Rico, without specifying further details of the new acquisition.

And it is that as explained by the executive, CCTL, led by businessmen Adam Stewart and Ian Dear, is a license that leads Starbucks operations in three markets in the Caribbean, Jamaica, the Cayman Islands and the Turks and Caicos Islands.

It also operates Margaritaville Caribbean Group, Sandals Resorts and Island Routes, and has over 25 years of experience in the retail and hospitality sector under its shoulders. Now, under the leadership of Sofía Moreno, country manager in the country, they hope to continue growing in the Panamanian market.

Starbucks, which arrived in the country five years ago, currently has eleven stores in Panama and has more than eighty partners.

With this alliance, "we are confident that this will bring new growth opportunities for everyone," Rico pointed out.

 

https://www.laestrella.com.pa/economia/200721/caribbean-coffe-traders-limited-adquiere-cafeterias-starbucks-panama

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