-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, DRwFNLvyfH8+2MjSprShEFvn01X5Z2VRRu5g0f9A5l+TBbnH/c0KXV6fUKyK6Iqe cAx3EOfaRSJvR28kJPvBDQ== 0000891020-98-000778.txt : 19980513 0000891020-98-000778.hdr.sgml : 19980513 ACCESSION NUMBER: 0000891020-98-000778 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980429 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19980512 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: STARBUCKS CORP CENTRAL INDEX KEY: 0000829224 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-EATING & DRINKING PLACES [5810] IRS NUMBER: 911325671 STATE OF INCORPORATION: WA FISCAL YEAR END: 0928 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 000-20322 FILM NUMBER: 98617094 BUSINESS ADDRESS: STREET 1: 2401 UTAH AVENUE SOUTH CITY: SEATTLE STATE: WA ZIP: 98134 BUSINESS PHONE: 2064471575 MAIL ADDRESS: STREET 1: 2401 UTAH AVENUE SOUTH CITY: SEATTLE STATE: WA ZIP: 98134 8-K 1 FORM 8-K 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): APRIL 29, 1998 STARBUCKS CORPORATION (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER) WASHINGTON 0-20322 91-1325671 (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification No.) 2401 Utah Avenue South Seattle, Washington 98134 (Address of principal executive offices, including zip code, of Registrants) (206) 447-1575 (Registrants' telephone number, including area code) 2 ITEM 5. OTHER EVENTS Attached hereto as Exhibit 99.1, and incorporated herein by reference, is the text of a press release of Starbucks Corporation, dated April 29, 1998. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS: (c) EXHIBITS 99.1 Press Release dated April 29, 1998. 3 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Starbucks Corporation (Registrant) Dated: May 12, 1998 By: /s/ MICHAEL CASEY ------------------------------- Michael Casey executive vice president, chief financial officer and chief administrative officer EX-99.1 2 PRESS RELEASE DATED APRIL 29, 1998 1 EXHIBIT 99.1 STARBUCKS TO ACQUIRE SEATTLE COFFEE COMPANY, THE UNITED KINGDOM'S LEADING SPECIALTY COFFEE COMPANY Overseas Growth Plans Announced SEATTLE, April 29, 1998 - Seattle-based Starbucks Coffee Company announced today that it plans to enter the European market with the acquisition of Seattle Coffee Company in the United Kingdom. Starbucks has agreed to acquire Seattle Coffee Company in exchange for approximately 1.8 million shares of Starbucks common stock in a transaction that will be accounted for as a pooling of interests. The acquisition is scheduled to close by the end of May. This transaction is expected to result in dilution to Starbucks after-tax earnings per share from ongoing operations of approximately $0.06 in 1998 and $0.05 in 1999 as Starbucks continues the aggressive growth plan initiated by Seattle Coffee Company in the United Kingdom and builds the foundation for expansion into Europe. It is also expected to result in one-time transaction and other acquisition-related after-tax charges of approximately $0.14 per share in the third fiscal quarter of 1998. "We are excited about this acquisition because we believe it will serve as our springboard into the European market," said Howard Schultz, chairman and ceo of Starbucks Coffee Company. "Europe has always represented a major strategic opportunity to achieve our goal of creating and building an enduring global brand. London, a city where creativity and innovation have always flourished, provides a perfect home for Starbucks and a significant gateway into Europe. "In fact, this acquisition is a first step towards achieving our new goal of opening 500 retail locations in Europe by the end of 2003. We also are pleased to announce that our plans in the Pacific Rim and Asia now include 500 stores by the end of 2003," said Schultz. "Our success in Asia and the Pacific Rim validates international customers' desire for high quality coffee and Starbucks ability to build our brand globally," said Howard Behar, president of Starbucks Coffee International. "This acquisition represents an excellent opportunity to expand the Starbucks brand throughout the United Kingdom and Europe, while continuing our successful operations and expansion in the Asia Pacific region, " said Behar. Seattle natives Scott and Ally Svenson founded Seattle Coffee Company in 1995 and will continue running the integrated business in the UK, with the support of Starbucks Coffee International. With 56 Starbucks-style retail stores across the UK, Seattle Coffee Company is the leading specialty coffee company in the UK and has plans to open in excess of 30 additional locations by the end of the calendar year. 2 "The Seattle Coffee Company management team has done a tremendous job in expanding the specialty coffee category in a very challenging market," said Behar. "Their leadership, talent and dedication to both their employees and customers make them a natural addition to the Starbucks family." "Following our 1990 move to London, Ally and I missed Seattle and Starbucks so much that we eventually decided to re-create a Starbucks-like experience here," said Scott Svenson, Seattle Coffee Company CEO. "Our success to date validates the tremendous opportunity that exists in this market, and with Starbucks we are now poised to really drive that momentum." Ally Svenson said, "Joining forces with Starbucks feels like a true homecoming for us as the two companies share a common culture, a commitment to great coffee, similar company values and a mutual respect for people. To a certain extent, we have spent the last three years getting the UK streets warmed up for the arrival of Starbucks." The United Kingdom will represent Starbucks first market in Europe. Starbucks Coffee Company is the leading retailer, roaster and brand of specialty coffee in North America. In addition to its 1,636 retail locations in North America and the Pacific Rim, Starbucks sells whole bean coffees through its specialty sales group, direct response business and supermarkets. Additionally, through its joint venture partnerships, Starbucks produces and sells bottled Frappuccino(TM) coffee drink and a line of premium ice creams. The shares of Starbucks Corporation common stock, no par value per share, to be exchanged in the transaction described above for the entire share capital of Seattle Coffee Holdings Limited (including all issued ordinary shares of 10p nominal value per share and all ordinary shares issuable pursuant to options) have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States except pursuant to an effective registration statement or an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. -----END PRIVACY-ENHANCED MESSAGE-----