[fm]: Starbucks (SBUX) Stock Up, Invests in Italian Princi Bakery

Shares of Starbucks (SBUX) are higher by 0.85% to $56.96 in pre-market trading Thursday as the coffee giant announced an investment and global licensing agreement with Italian boutique bakery Princi.

Starbucks along with Milan-based Angel Lab and Pekepan Investments will expand the number of Princi locations worldwide. The first one is planned for Seattle next year.

Princi will also be the exclusive food purveyor at the new Starbucks reserve roastery and tasting rooms in Shanghai and New York, according to a statement.

Terms of the deal were not disclosed.

In February, Seattle-based Starbucks said it would open its first store in Milan in early 2017.




By: Kaya Yurieff (The Street).

Photo: News Clip.

Review: Emerging Market Formulations & Research Unit, FLAGSHIP RECORDS.

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