Starbucks teams up with top retailers to bring Starbucks experience to Brazil, expansion supports the company's growth strategy and commitment to long-term goal of more than 30,000 locations worldwide.

Starbucks Coffee Company today announced that it has signed a joint venture agreement with Cafes Sereia do Brasil Participacoes S.A., a Brazilian holding company led by successful local retailers, to form Starbucks Brasil Comercio de Cafes Ltda. (Starbucks Brasil).

Starbucks Cafes do Brasil will open and operate Starbucks retail locations throughout Brazil, with the first store scheduled to open in Sao Paulo within a year. When the store is opened, customers in Brazil will be able to share in the enjoyment of Starbucks legendary specialty coffee and service with more than 40 million current patrons that visit the Company's locations per week throughout the world.

"Starbucks is humbled and honored to be welcomed into Brazil, a country with a rich coffee heritage," said Buck Hendrix, president of Starbucks Latin America. "We look forward to becoming a part of this great tradition and contributing to its prosperity. We have found that when we share our passion for the highest-quality coffee available and the Starbucks Experience in a new market, we help the local specialty coffee industry flourish, benefiting consumers and other coffeehouses."

The Starbucks Experience is distinctive in that it provides partners (employees) and customers with daily inspiration through the human connection, innovative products and services, and a comfortable atmosphere. This experience extends well beyond Starbucks retail locations into the communities in which it operates.

"Contributing positively to our communities and environment is a fundamental part of the Starbucks culture," continued Hendrix. "That's why we are proud to be partnering with Maria Luisa and Peter Rodenbeck, the principals of Cafes Sereia do Brasil. They are as passionate about operating a successful business while giving back to society by supporting various programs to benefit others as we are."

Prior to creating Starbucks Brasil with Starbucks, the Rodenbecks successfully introduced several international retail brands to Brazil, including McDonald's and Outback Steakhouse. Additionally, Maria Luisa is a dedicated volunteer of Junior Achievement, an international non-profit organization that helps children and youngsters develop passion for business. Combining business acumen with passion to improve the world is complimentary to Starbucks tradition of engagement and commitment in communities in which the Company operates.

"I believe our partnership with Starbucks will greatly benefit the coffee industry in Brazil," said M.L. Rodenbeck. "Brazilians will have career opportunities with one of the most recognized brands in coffee, more premium-quality coffees to choose from, and a sophisticated and welcoming environment to enjoy connecting with friends and families while discovering new handcrafted beverages and food offerings. Additionally, we will be contributing to local communities where we operate, and the environment, not just in Brazil but throughout the world."