Starbucks Invests in Artisan Italian Bakery

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Starbucks is bringing the taste of an upscale Italian bakery to different corners of the world.

The coffee giant on Wednesday, July 13, announced that it had made an investment in Italy restaurant company Princi.

The financial terms of the deal were not released.

But, what we do know about the deal is that it will allow Starbucks to develop and operate new Princi locations outside of Italy, including in the U.

S.

Princi currently has four locations in Milan and one in London.

According to Reuters, the first new Princi location is planned for Starbucks' hometown of Seattle and will open in 2017.

Also under the deal, Milan-based Princi will exclusively provide food to the new Starbucks Reserve Roastery and Tasting rooms — those are expected to launch in Shanghai next year followed by New York in 2018 — and they will include baking on site.

For NewsBeat Social, I'm Christelle Koumoué.

Source: Youtube