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Thursday, January 13, 2011

Starbucks signs pact with Tata Coffee, may open stores in India, (NASDAQ: SBUX), (TACO)

Starbucks Corp (SBUX.O), the world's largest coffee chain, has signed a pact with India's Tata Coffee Ltd (TACO.BO) to explore the possibility of opening retail stores in India, the two companies said in a statement. The agreement, which also allows Starbucks to source beans from Tata's plant in southern India, will be Starbucks' first step to entering Asia's third-largest economy, Starbucks Chief Executive Howard Schultz said in the statement. The two companies will also consider jointly investing in additional facilities for exports to other markets, they said. (Reporting by Nandita Bose; Editing by Jui Chakravorty)

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