The acquisition of Starbucks in 1987 was undertaken by Howard Schultz, the current CEO of Starbucks, in order to realize his vision of Italian-style espresso bar culture in the United States.
Schultz, a former Starbucks employee, was inspired by the local "bar" (stand-up cafe) culture during a business trip to Italy in 1983 and wanted to create a "third place" between home and work in the United States.
However, at the time, Starbucks' main business was retailing roasted beans and was reluctant to operate cafes. While it developed espresso beans in Seattle and supplied them to Café Allegro, it refrained from serving drinks in stores.
As a result, Schultz disagreed with management and temporarily left the company to start a cafe called "Il Gionale."
Schultz partnered with Olsen to open three stores.
Then, in 1987, Starbucks' management began considering selling the Starbucks business.
Starbucks was originally founded by Jerry Baldwin, Gordon Bowker, and Zev Siegl, who were inspired by the Arabica coffee roasted by Alfred Peet.
In 1987, they had acquired Peet's Coffee & Tea, run by Peet, and decided to focus on managing that business.
Schultz then raised 3.8 million yen in acquisition funds and purchased Starbucks.
Starbucks then transformed from a roaster that primarily sold beans into a cafe operator offering a third location where Italian-style espresso was the main menu item.
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