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South Africa's Taste Holdings plans to exit food business, sells Starbucks

Published 11/01/2019, 02:22 AM
Updated 11/01/2019, 02:25 AM
South Africa's Taste Holdings plans to exit food business, sells Starbucks

JOHANNESBURG (Reuters) - South Africa's Taste Holdings (J:TASJ) said on Friday it had sold its Starbucks (NASDAQ:SBUX) business for 7 million rand ($464,200) and was also considering selling others in its food business, including Domino's Pizza, as part of a new plan to become a luxury retail group.

The company said in a statement that it could not secure the capital required to fund its previous strategy aimed at bringing Starbucks and Domino's to break-even.

Latest comments

will taste holdings survive the transformation of only focusing on luxury?
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