Starbucks to expand into Brazil within a year

CHICAGO, May 25 (Reuters) - Starbucks Corp. (SBUX.O: Quote, Profile, Research) on Thursday said it plans to open coffee shops throughout Brazil in a joint venture agreement with a Brazilian holding company, with the first store set to open in Sao Paulo within a year.

The joint venture with Cafes Sereia do Brasil Participacoes SA, which is led by local retailers, is known as Starbucks Brasil Comercio de Cafes Ltda., or Starbucks Brasil, Seattle-based Starbucks said.

Starbucks already has coffeehouses in 37 countries outside of the United States, including joint ventures, licenses, and company-owned operations.

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