The Alshaya Group has acquired the operating rights for Starbucks stores in Greece and Cyprus, taking over as the new exclusive owner and manager of the business from the Marinopoulos family.

The move brings 30 stores in Greece and 18 in Cyprus under Alshaya’s management, with the network employing around 500 people across the two markets.

In Greece, the new operating entity will be called Alshaya Hellas SMSA, while in Cyprus it will operate under the name Murgab Cyprus Ltd.

The Starbucks chain in Greece and Cyprus began operating in 2002.

Until now, the business had been managed by the Marinopoulos family, with Yiannis Marinopoulos serving as chief executive. He is expected to return to the family business.

Alshaya Group is one of Starbucks’ largest and longest-standing licensees worldwide.

Since opening its first Starbucks store in Kuwait in 1999, it has expanded to operate more than 2,000 stores in 13 countries, serving over one million customers a day.

“Today’s announcement marks the continuation of our growth path through the Starbucks store network,” said Saleh Alshaya, president of Starbucks at Alshaya Group.

“We look forward to working with our new colleagues, expanding the choices of our customers to enjoy their favorite Starbucks coffee throughout Greece and Cyprus,” he said, adding that the group was looking ahead to “a dynamic future”.

Duncan Moir, president of Starbucks EMEA, said the company looked forward to working with Alshaya Group to reach more coffee consumers in both countries.

He also thanked the Marinopoulos Group for its “long and successful partnership” over the past 24 years, saying Alshaya, as Starbucks’ largest licensed partner, was well placed to strengthen the brand’s presence in the region.

Marinopoulos, for his part, thanked staff and customers for their support since 2002 and wished Alshaya success in the next phase of the business. He also thanked Starbucks for its long-standing cooperation and trust in the Marinopoulos family.

The transition will be overseen by Jacqueline Delpippo, business manager of Starbucks Greece and Cyprus at Alshaya Group, with the immediate focus on ensuring continuity and seamless service for customers.

At a later stage, the group said it will seek to further improve the customer experience while exploring opportunities to expand its footprint in the two markets.