US coffee chain Starbucks in JV with Tatas

January 30, 2012 17:32

The United States-based coffee chain Starbucks will set up cafes in India through an equal joint venture with Tata Global Beverages.

In a filing to the BSE, Tata Global Beverages said it has signed a joint venture agreement with Starbucks, which sets forth the vision of developing the business in India. Each party will hold 50 per cent of the JV.

"The company has entered into a joint venture with Starbucks group whereby the newly formed joint venture company Tata Starbucks Ltd shall engage in the operation of Starbucks Cafes," it said. The filing did not provide more details.

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