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Taste Holdings shares jump on Starbucks stores deal

Reuters - UK Focus

JOHANNESBURG, July 14 (Reuters) - Shares (Frankfurt: DI6.F - news) in restaurant and retail group Taste Holdings jumped nearly 20 percent on Tuesday after the company said it had signed an exclusive deal with coffee giant Starbucks (Swiss: SBUX.SW - news) to develop outlets in South Africa.

Under the agreement, Taste, which in 2014 also acquired the licence for Domino's Pizza in South Africa, will operate Starbucks coffee shops for 25 years.

Taste shares were up 19.9 percent at 5 rand by 0907 GMT. (Reporting By Tendai Dube; Editing by Stella Mapenzauswa)