UK-based KBeverage is reportedly planning to expand Starbucks store’s footprint in the country and aims to open 100 outlets by 2026, according to a World Coffee Portal report.
The move comes after the company’s acquisition of GK Coffee Group, which allowed it to add nine stores in London.
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Financial terms of the deal have not been disclosed. The acquisition is said to have been financed via HSBC UK funding package.
With these openings, KBeverage currently operates 44 Starbucks outlets, which are located across London as well as in the East of England.
Similarly, The Magic Bean Company also secured a £10m ($12.8m) support package from HSBC UK for expanding its Starbucks store network from 24 to 200 sites over the next five years.
The company’s move would see the opening of multiple new Starbucks drive-thru stores while creating more than 4,000 new jobs in the country.
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By GlobalDataKBeverage director Alok Yadav was quoted by World Coffee Portal as saying: “Our expansion into London with nine new stores has been an important milestone in our growth plan.
“By broadening our reach beyond the East of England, we’ve tapped into a sizable customer base and taken a big step towards our goal of owning 100 stores by 2026.”
Last month, Starbucks unveiled its plan to invest £30m in the UK for opening 100 new restaurant outlets this year.
The investment plan comes after the company reported a 37% surge in UK sales last year, surpassing pre-pandemic levels, Reuters reported.
