TM Capital Advises Starbucks on Sale of Puerto Rico Restaurants

September 2015 | News & Press

StarbucksTM Capital is pleased to announce that we have advised Starbucks Corporation—the world’s premier roaster and retailer of specialty coffee—in its sale of the exclusive right to operate Starbucks stores in Puerto Rico to Baristas Del Caribe, LLC, an affiliate of Puerto Rico-based Empresas Fonalledas, Inc. We assisted Starbucks in attracting a partner that shares not only its passion for high quality coffee, but also its commitment to engaging locally with its customers and communities. This transaction success further highlights TM Capital’s differentiated expertise in advising world-renowned restaurant and consumer brands in achieving their strategic goals.

  • Starbucks opened its first store in San Juan, Puerto Rico in 2002 and today has 19 stores across the island, employing more than 340 individuals
  • Starbucks Corporation, with revenues of approximately $16.5 billion, is the premier roaster and retailer of specialty coffee in the world with more than 21,000 stores globally
  • Empresas Fonalledas Inc. is a leading family-owned Puerto Rican group of companies whose holdings include Plaza Las Americas (the largest shopping mall in the Caribbean), Vaquería Tres Monjitas (a fresh milk producer) and Soft & Creamy (a quick service ice cream chain)
  • Through a strategic licensing agreement, Baristas Del Caribe will leverage its strong local market knowledge to further grow the Starbucks retail business in Puerto Rico

What Our Clients are Saying

“TM Capital exceeded expectations as Starbucks’ investment banker – truly acting as our trusted partner throughout a highly complex process and adopting our priorities, values and culture as their own. TM’s understanding of restaurant industry transaction drivers and their expertise in navigating the complexities of cross-border corporate divestitures were extremely valuable to Starbucks in helping to identify a partner and negotiate a transaction that positions us for growth in Puerto Rico while creating meaningful opportunities for our local partners.”

-Ricardo Rico, VP Latin America Retail Operations, Starbucks Corporation

About TM Capital

TM Capital Corp. is a partner-owned investment banking firm based in New York, Boston and Atlanta, which has completed over 275 transactions with a combined value in excess of $17 billion. Since 1989, we have advised clients navigating a full range of critical transactions, including complex mergers, acquisitions, debt and equity financings, minority and majority recapitalizations, restructurings, and advisory services including takeover defense, fairness and solvency opinions and valuations. We have built deep industry expertise in key sectors and our team regularly publishes research highlighting current and emerging trends in targeted industries and markets. TM Capital is a member firm of M&A International Inc., the world’s leading alliance of mid-market investment banks with over 650 M&A professionals in 42 countries. Members have closed over 1,400 transactions totaling more than $75 billion in value over the past five years.


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