Company focuses on new ideas and technologies that are relevant to
customers, inspiring to partners (employees), and meaningful to the
Starbucks business
SEATTLE--(BUSINESS WIRE)--
Starbucks Corporation (NASDAQ: SBUX) today announced its pioneering
investment in the new Valor Siren Ventures I L.P. (“VSV”), which will
serve as a growth driver for the next generation of food and retail
start-up technology companies. Managed by Valor Equity Partners, a
leading growth-focused private equity investment firm that was among the
first investors in food technology, the new fund will identify and
invest in companies that are developing technologies, products, and
solutions relating to food or retail. These verticals are increasingly
relevant to Starbucks as it seeks to support its world-class talent with
an innovation agenda accelerated by external relationships.
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The Starbucks $100 million cornerstone commitment to VSV is the first of
its kind for the company, and the new fund will seek to raise an
additional $300 million in the coming months from other strategic
partners and key institutional investors. Separately, Starbucks will
also explore direct commercial arrangements with these start-ups. Under
the leadership of Kevin Johnson, Starbucks president and ceo, the
company is growing with focus and discipline, embracing new ideas and
innovations that are relevant to Starbucks customers, inspiring to its
partners, and meaningful to its business.
“We believe that innovative ideas are fuel for the future, and we
continue to build on this heritage inside our company across beverage,
experiential retail, and our digital flywheel,” said Johnson. “At the
same time, and with an eye toward accelerating our innovation agenda, we
are inspired by, and want to support the creative, entrepreneurial
businesses of tomorrow with whom we may explore commercial relationships
down the road. This new partnership with Valor presents exciting
opportunities, not only for these startups, but also for Starbucks, as
we build an enduring company for decades to come.”
Antonio J. Gracias, Valor's Founder, Managing Partner, and Chief
Investment Officer, said, “as experienced investors in food and retail
technology, we are thrilled to partner with Starbucks, one of the most
iconic and forward-thinking global brands. Under our partner Jon
Shulkin’s leadership, we are incredibly excited to partner with
Starbucks to drive innovation in the food and retail industries.”
Over its 20-year history, Valor's team has worked with companies,
principally in the consumer, engineered products, and services sectors.
Examples of Valor’s investments in the food and retail technology space
include goPuff, Fooda and Sizzling Platter, to name a few. Valor
combines extensive entrepreneurial experience with operational and
technical expertise to accelerate growth.
Forward-Looking Statements
Certain statements contained
herein are “forward-looking statements” within the meaning of the
applicable securities laws and regulations. Generally, these statements
can be identified by the use of words such as “anticipate,” “expect,”
“believe,” “could,” “estimate,” “feel,” “forecast,” “intend,” “may,”
“plan,” “potential,” “project,” “should,” “will,” “would,” and similar
expressions intended to identify forward-looking statements, although
not all forward-looking statements contain these identifying words.
These statements are based upon information available to Starbucks as of
the date hereof, and Starbucks actual results or performance could
differ materially from those stated or implied due to risks and
uncertainties associated with its business. These risks and
uncertainties include, but are not limited to, the risks detailed in the
company filings with the Securities and Exchange Commission, including
the “Risk Factors” section of Starbucks Annual Report on Form 10-K for
the fiscal year ended September 30, 2018. We assume no obligation to
update any of these forward-looking statements.
About Valor Equity Partners
Valor Equity Partners is an
operational growth investment firm focused on control and non-control
investments in high-growth companies across various stages of
development. For decades, Valor has served its companies with unique
expertise to solve the challenges of growth and scale. Valor partners
with leading companies and entrepreneurs who are committed to the
highest standards of excellence and the courage to transform their
industries. For more information on Valor Equity Partners, please visit www.valorep.com.
About Starbucks
Since 1971, Starbucks Coffee Company has
been committed to ethically sourcing and roasting high-quality arabica
coffee. Today, with more than 30,000 stores around the globe, Starbucks
is the premier roaster and retailer of specialty coffee in the world.
Through our unwavering commitment to excellence and our guiding
principles, we bring the unique Starbucks Experience to life for every
customer through every cup. To share in the experience, please visit our
stores or online at news.starbucks.com and Starbucks.com.
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Starbucks Coffee Company
press@starbucks.com
206-318-7100
Source: Starbucks Coffee Company