September 2, 2018 / 8:56 PM / 3 months ago

NZ's Restaurant Brands to exit Starbucks business in New Zealand

Sept 3 (Reuters) - Restaurant Brands New Zealand said it would not renew its licence deal with Starbucks Corp when it expires in October.

The fast-food company said in a statement it had sold fixed assets and stock related to its deal with Starbucks Coffee International, Inc to New-Zealand based Tahua Capital for NZ$4.4 million ($2.9 million).

$1 = 1.5117 New Zealand dollars Reporting by Karthika Suresh Namboothiri

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