Zamp, owner of Burger King and Popeyes in Brazil, completed the acquisition of Starbucks assets in the country and announced the hiring of Mariane Grechinski as the new vice president responsible for operating the coffee shops. Initially, the purchase price had been set at R$120 million, but was adjusted to R$101.8 million due to factors such as the number of stores transferred, the level of inventories and net debt at the time of completion of the transaction. The value may still undergo further adjustments.
According to Exame, Zamp acquired all Starbucks assets that were under the management of Café Pacifico, a company created during SouthRock’s judicial recovery process to facilitate the sale of the brand’s operations in Brazil. Upon completion of the purchase, Café Pacifico’s shares will be incorporated by Zamp.
Mariane Grechinski, new VP of Starbucks in Brazil, brings extensive experience in shopping center management, having worked for more than 10 years at BR Malls and also at Multiplan. More recently, she held the position of CEO at GuardeAqui, a self-storage company purchased by GoodStorage, in addition to being an advisor to companies such as Estapar and Alphaville Urbanismo.
The acquisition of Starbucks strengthens Zamp’s strategy of consolidating itself as a “house of brands” in the food sector, under the leadership of Mubadala, the Abu Dhabi sovereign wealth fund, which holds 58.2% of the company’s capital. In addition, Zamp also obtained Cade’s approval in September for the acquisition of the Subway operation in Brazil, another brand that belonged to SouthRock.
Zamp’s CEO, Paulo Camargo, who previously led McDonald’s in Brazil, highlighted that the company seeks to acquire leading or second-leading brands in their segments, with the aim of further expanding the company’s portfolio.
