Starbucks is reportedly exploring the possibility of re-entering the Russian market by acquiring the outlets now operating under the Stars Coffee brand, according to Mash on February 19.
The company, which pulled out of Russia in 2022, is said to have approached restaurant partners with inquiries about purchasing the business for approximately $270 million, based on current exchange rates.
In 2022, as part of its exit from Russia, Starbucks sold its assets to Timati, a musician and entrepreneur, and Anton Pinsky, a restaurateur. The duo rebranded the coffee shops as Stars Coffee, opening the first location on Arbat Street in Moscow on August 18, 2022.
Sources indicate that Starbucks has yet to make an official offer to Timati and Pinsky but has reached out for preliminary discussions and to assess the business’s value.
According to reports, the asking price of $270 million is at least ten times higher than the sum Timati and Pinsky paid for the brand’s assets in 2022.
While Stars Coffee has declined to comment on whether any formal offer has been received, Timati has not confirmed or denied the talks, stating that if a deal progresses, the public will be informed.
Earlier this month, Russian video streaming platforms began negotiations with major Hollywood studios to restore their film libraries for the first time since Russia's invasion of Ukraine.
-21d0b63c17f6020e4df75f6c6f9a2f4f.jpg "Ivan Khomenko")