Starbucks Invests $130 Million to Build New Roasting Facility in China
March 13 2020 - 4:18AM
Dow Jones News
By Justina Lee
Starbucks Corp. will invest approximately $130 million in a new
roasting facility in China.
The facility, which will be its largest manufacturing investment
outside of the U.S. and its first in Asia, will incorporate a
roasting plant, a warehouse and a distribution center, it said
Friday.
The plant will help Starbucks strengthen its market position in
the specialty coffee industry in China, where it aims to have 6,000
stores by 2022.
The facility is expected to open in 2022.
Starbucks currently operates six roasting facilities, one of
which is in Amsterdam to support the European market, while the
rest are in the U.S., it said.
Write to Justina Lee at justina.lee@wsj.com
(END) Dow Jones Newswires
March 13, 2020 04:03 ET (08:03 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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