Mexico's VIPS is aiming to gobble up Europe

VIPS, the huge Mexican chain of restaurant operators, is looking to the heart of Europe in order to diversify its earnings in the face of the difficulties that face the peso and are boosting the euro.

The chain has used its financial power to take control of two bulwarks in Europe: the 200 Starbucks establishments in France, the Netherlands, Belgium and Luxembourg, as well as all of the VIPS chain in Spain.

VIPS already has all of Starbucks, Domino’s Pizza, Chili’s, California Pizza Kitchen, P. F. Chang’s, Pei Wei, Italianni’s, El Portón, The Cheesecake Factory and VIPS in Mexico.