South Africa's Taste Holdings plans to exit food business, sells Starbucks
Reuters
Published Nov 01, 2019 02:22AM ET
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.
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Written By: Reuters
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