Starbucks is restructuring its European operations after several years of slowing sales. The Seattle-based coffee chain is selling 83 company-owned stores in France, the Netherlands, Belgium and Luxembourg to its longtime partner, Alsea. Alsea will also provide services to 177 other Starbucks locations in those countries which are owned by franchisees. Mexico City-based Alsea already operates more than 900 Starbucks stores in Mexico and South America. The deal is similar to one Starbucks made in 2016, when it sold off its stores in Germany.

Source: ABC News October 18, 2018 15:11 UTC