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ZAMP, Burger King franchisor, tries to acquire Starbucks Brasil
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ZAMP, Burger King franchisor, tries to acquire Starbucks Brasil
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In a strategic move that could reshape the coffee shop market in Brazil, ZAMP, which manages the Burger King and Popeyes chains nationally, moved forward to acquire the Starbucks Brasil operation. ZAMP presented a preliminary proposal to SouthRock Capital, which is currently undergoing a judicial recovery process and holds the rights to operate Starbucks stores in Brazil.
The offer, described as non-binding, signals ZAMP's first formal step to explore the feasibility of incorporating the famous coffee chain into its portfolio. SouthRock, in turn, confirmed receipt of the proposal and subsequent permission for ZAMP to carry out a detailed analysis of Starbucks Brasil's financial and operational documents.
Embed from Getty Images”>Embed from Getty Images
ZAMP, owner of Burger King, tries to buy rights to operate Starbucks Brazil (Photo: reproduction/Matthew Horwood/GettyImages Embed)
Burger King analyzes Starbucks Brazil
Financial sector experts explain that a non-binding offer is a standard procedure in mergers and acquisitions negotiations, allowing the company interested in the purchase to have access to crucial information before committing to a final offer. The main objective of this offer is to investigate the financial and operational aspects of the other company, enabling an in-depth assessment before any definitive commitment.
Following acceptance of the preliminary offer by SouthRock, ZAMP now has access to Starbucks Brasil data. If the analysis confirms interest in the acquisition, ZAMP may move forward with a binding offer, which would include specific financial terms and conditions for the transaction.
Recovery and commitment
SouthRock faced difficulties after filing for judicial recovery in 2023, thus losing the rights to operate Starbucks in Brazil. The company suffered economic crises after the pandemic and the judicial recovery process was necessary. ZAMP's interest in operating Starbucks in Brazil was exposed in February this year.
SouthRock emphasizes that, despite the challenges, it is committed to respecting agreements with its creditors and following legal procedures for approving its recovery plan. In addition, the company sought protection for debts related to Subway's operations in Brazil, which are close to half a billion reais.
Featured Photo: Company that operates Starbucks Brasil undergoes judicial recovery and receives proposal to purchase Burger King (Reproduction/Europa Press News/GettyImages Embed)
ZAMP, Burger King franchisor, tries to acquire Starbucks Brasil
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ZAMP, Burger King franchisor, tries to acquire Starbucks Brasil
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