Transfer at a low price! Starbucks changes ownership and reopens!

Anton Pinsky, founder of the famous local catering company Pinskiy&Co, will sign a contract by the end of this month to acquire leases in all Starbucks stores in its territory, as well as berths in Pushkinno Park Shopping Center, and to open a new local chain coffee brand, Magadan Krasnodar, according to local media reports.

Since March 8 this year, Starbucks announced the end of its 15-year franchise in Russia, the brand's 130 coffee shops in Russia have been closed. Although the distribution of stores is small, but has not found a suitable buyer to buy.

Until early June this year, local residents said that a Starbucks store at the Northern Lights Mall suddenly lined up and sold coffee drinks and surrounding goods at a discount, and there was speculation about whether Starbucks would find a new buyer to take over.

On July 4th, SysoevFM, a radio channel specializing in Russian catering, said that all Starbucks stores in Russia would be taken over by Pinskiy&Co. If the deal succeeds, Starbucks will, like McDonald's, rename it and start operating again.

McDonald's announced its withdrawal from the Russian market in mid-May after the conflict between Russia and Ukraine broke out. Three days after the decision, the brand's 850 stores, all its staff and recipes were taken over by Alexander Gowal, a Russian businessman, but instead of using "McDonald's" as the name of the restaurant, it was renamed "Vkusno i tochka".

Unlike McDonald's, Anton Pinsky will re-create a local coffee chain, but no longer use Starbucks recipes and ingredients. Starbucks, like McDonald's, will need to be renamed to provide local consumers with cost-effective, high-quality coffee.

Pinskiy&Co catering operates a number of restaurants in Russia, including 10 restaurants including Russian food, French food, light food and coffee shops, as well as independent takeout platforms. Moscow catering market inspector Sergei Mironov said that the company has a great advantage in taking over, because through the size of the company, stores can reduce costs through long-term leases and provide takeout services at the same time.

He also said that local consumers themselves like the Starbucks brand because they can get a cup of coffee of stable quality in the shortest possible time, but the price will be relatively high.

After Pinskiy&Co 's acquisition and rebranding, as long as it can maintain Starbucks-like fast and stable production and increase delivery services, then coffee shops of other foreign brands will not compete with them.

When the conflict between Russia and Ukraine made many foreign brands decide to withdraw from Russia, many local market analysts said it was an once-in-a-lifetime opportunity for local companies and brands to develop. Because compared with foreign brands need to pay extra franchise fees, the operating costs and products of local brands will have greater advantages.

Some Russian market analysts predict that the transaction value of this acquisition of Starbucks is about 16 to 3 billion rubles, but the exchange rate of the US dollar may continue to fall, so the possibility of a successful transaction of 700 million rubles cannot be ruled out.

Photo Source: Internet

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