Starbucks acquires UK licensed business partner 23.5 Degrees

Oct 17, 2024•about 1 year ago

Contract Type

partnership

SeattleRetailHospitalityFood and Beverage

Description

Starbucks has acquired its UK licensed business partner 23.5 Degrees, expanding its presence in the UK market. The partnership aims to further develop and strengthen the Starbucks brand in the region.

Company Information

Company

Starbucks

Location

Seattle, Washington, United States

About

The global leader in the baking industry and an important player in snacks, Grupo Bimbo drives annual sales of $22.3 billion with over 217 plants and more than 148,000 associates across 34 countries throughout the world. Grupo Bimbo’s 100 plus brands include Bimbo, Sara Lee, Entenmann’s, Thomas’ English muffins, and Takis tortilla chips. Since 1971, Starbucks Coffee Company has been committed to ethically sourcing and roasting high-quality arabica coffee. Today, with more than 38,000 stores worldwide, the company is the premier roaster and retailer of specialty coffee in the world. Through our unwavering commitment to excellence and our guiding principles, we bring the unique Starbucks Experience to life for every customer through every cup. To share in the experience, please visit us in our stores or online at https://stories.starbucks.com/ or www.starbucks.com.

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Agreement Insights

Based on industry data
Strategic partnership established
Partnership agreements typically involve technology integration and joint go-to-market strategies
Contract momentum indicator
Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months