Poland's AmRest signs preliminary deal with Starbucks

AmRest restaurant group's Polish branch has signed a preliminary agreement to open Starbucks Corp. coffeehouse stores in central Europe, AmRest said.

"We plan to close our talks in the second quarter of this year," and the first shops could be opened in Poland within 10 months after any final agreement is reached, spokesman Mateusz Sielecki told The Associated Press on Thursday.

Sielecki refused to estimate the overall value of the plan, but said the company hopes to earn at least $50 million annually from Starbucks coffee shops.

U.S.-based Starbucks confirmed it had signed a nonbinding preliminary deal to explore business opportunities with AmRest in Poland, the Czech Republic and Hungary.

In a statement, spokeswoman Alisa Martinez said the world's largest specialty coffee seller was "encouraged about the opportunities" for expansion to new European countries.

Starbucks has more than 13,000 locations worldwide, including more than 1,000 total stores in Europe, the Middle East and Africa. The company has a long-term global of 40,000 stores, with half of those outside the United States.

AmRest, registered in the Netherlands but based in Wroclaw, Poland, runs more than 200 restaurants in Poland, the Czech Republic, and Hungary.

It holds local franchises for U.S.-based Yum! Corp. brands such as KFC and Pizza Hut, and recently was awarded development rights to Poland for Burger King Corp.

Source: iht.com