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Starbucks to buy Costa Rican coffee farm

Tuesday, March 19, 2013

Starbucks plans to buy its first coffee farm, a nearly 600-acre estate on the slopes of the Poas Volcano in Costa Rica.

The chain plans to convert the farm to an agronomy research and development center working on climate change mitigation, long-term crop stability and other programs. It did not disclose terms of the deal, which is expected to close in May.

The center “will support the resiliency of coffee farmers and their families as well as the one million people that represent our collective coffee supply chain,” chief executive Howard Schultz said.

Source: Seattle Times