"We think we're a part of that. Not all of that," he says.

In Colombia, Starbucks will work with Alsea, a Mexican restaurant operator it has worked with for 10 years, and Grupo Nutresa, a Colombian food manufacturer and distributor.

"The timing of the three relationships coming together made it perfect, but even if that hadn't we'd be figuring out a way to come to Colombia," Nelsen says, citing its population of 46 million, consistent growth rate above 5% and increasing political stability.

-- Written by Dan Freed in New York.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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