Skip to content Skip to Search
Skip navigation

Mubadala-backed Zamp buys Starbucks brand in Brazil

Customers at the Starbucks store in Sao Paulo's Alameda Santos Reuters/Rickey Rogers
Customers at the Starbucks store in Sao Paulo's Alameda Santos

Zamp, a Brazilian restaurant chain backed by Abu Dhabi sovereign fund Mubadala, has signed a deal to buy the Starbucks brand in the South American nation.

The operator of Burger King and Popeyes stores in Brazil, Zamp signed an agreement with bankruptcy-hit SouthRock Group to acquire certain assets and rights of the Starbucks brand for 120 million real ($22.7 million), it said in a filing to Brazil’s stock exchange on Thursday.

The news drove Sao Paulo-listed Zamp’s share price up 10.2 percent at closing.



Although the deal will be carried out through a competitive process, Zamp will have the right to match potentially higher bids from third parties. However, the filing did not give the number of Starbucks stores to be acquired.

The transaction is subject to approvals from Brazil’s competition authority and the bankruptcy court.

In February, Zamp disclosed that Mubadala Capital, wholly owned by Mubadala Investment Company, owns a 38.5 percent stake.

Mubadala Capital Brazil has invested over $5 billion in Brazil since 2012, according to Mubadala Capital, the $20 billion global asset management firm.