Stone Creek Coffee Aquires Rival Starbucks

According to the New York Times web site, Stone Creek Coffee located in Milwaukee, WI has purchased a controlling interest in Starbucks Coffee, Seattle, WA. According to Stone Creek Coffee CEO, Eric Resch, the acquisition was successful due in part to a depressed share price for Starbucks but also the strategic plan put forth by his executive team. Resch said, “…while we have the utmost respect for Howard (Schultz) and his team at Starbucks we felt it was time for new leadership. Howard has been a force in our industry for many years but we simply feel Starbucks has not saturated the market adequately…..we can bring that to the table.” Resch would not comment whether he would be moving the headquarters to Milwaukee but did state at the end of his press conference, “I am not crazy about rain.” Stay tuned. To learn more about the acquisition and see photos of Eric working at one Starbuck’s Toledo, Ohio stores…click here.

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