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Starbucks to Enter Israel.

Starbucks Coffee International announced that it has reached an agreement with the Delek Group to form a joint venture to open Starbucks retail locations in Israel.

"Starbucks is excited about entering the Israeli market," said Peter Maslen, president of Starbucks Coffee International.

"We have a great partner in the Delek Group, who shares our commitment in bringing the Starbucks Experience to Israel. We expect Israel to be an excellent market for Starbucks, with great growth opportunities following the opening of Starbucks stores later this year."

"This joint venture is part of Delek's strategy to expand into new business sectors within Israel," said Giora Sang, president of Delek's Israel Fuel Corporation Ltd. "We are delighted to become partners with such a world-class brand as Starbucks."

The Delek Group, a publicly traded company on the Tel Aviv Stock Exchange, was established in 1951. Its activities today are managed by three major subsidiaries: Israel Fuel Corporation Ltd., Delek Real Estate Ltd., and Delek Investments & Properties Ltd.

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