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Starbucks is going to close all of its La Boulange bakery retail locations

Reuters,Pamela EngelJun 17, 2015, 11:35 IST

Starbucks Corp said late Tuesday it would close all 23 La Boulange retail locations as well as the two manufacturing facilities that serve those locations, by the end of September.

The company reiterated its goal to grow its food business and deliver by an incremental $2 billion in the next five years in the United States.

Starbucks paid $100 million to buy La Boulange's owner, Bay Bread Group, in 2012. Starbucks had reportedly planned to make it a national chain. The acquisition was meant to grow the food portion of Starbucks' business.

(Reuters reporting by Subrat Patnaik in Bengaluru; Editing by Gopakumar Warrier)

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