Baristas Del Caribe assume control of Starbucks Puerto Rico

Baristas Del Caribe has acquired exclusive rights to operate Starbucks stores in Puerto Rico. Baristas Del Caribe, an affiliate of the family-owned Puerto Rican group of companies, Empresas Fonalledas, will use its local market knowledge to grow Starbucks in the region. Through the licensing agreement, Baristas Del Caribe will assume full operating control of Starbucks 19 stores in Puerto Rico. “This agreement is not only a vote of confidence from Starbucks, but an opportunity to combine our expertise in the areas of commercial real estate, retail operations, and high quality products for one of the most respected brands in the world,” said Jaime Luis Fonalledas, Executive Vice President of Empresas Fonalledas. Since the late 1800s, Empresas Fonalledas has managed holdings in properties ranging from dairy cattle operations, milk processing plants, plastics manufacturing, banks and shopping centers. Empresas Fonalledas’ Tres Monjitas brand is already Starbucks fresh milk provider in Puerto Rico. Starbucks has also been a tenant in its Plaza Las Américas in San Jaun for the last two years. Starbucks opened its first store in San Juan, Puerto Rico in 2002. Across Latin America, Starbucks owns more than 880 stores in 15 markets, 14 of which are operated by licensing partners.