Whitbread and OJSC Rosinter Restaurants Holding “Rosinter” (RTS:ROST) have today announced they will launch the Costa Coffee shop chain in Russia via a Joint Venture.
Rosinter is the leading casual dining restaurant chain in Russia and CIS, operating 216 restaurants in 8 countries and 24 cities.
The new agreement between Whitbread and Rosinter will see over 200 Costa stores opening in the next five years, concentrating on Moscow and Saint Petersburg in its first year, and then expanding to other Russian regions thereafter. The partners also intend to open Costa stores in Ukraine and Belarus at a later date.
The first Costa flagship store will open in Pushkin Square in Moscow in early 2008. In addition, it is intended that some coffee shops currently operated by Rosinter under its proprietary brand Moka Loka will be acquired by the Joint Venture and converted to the Costa brand.
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