Global coffee chain Starbucks will move the regional headquarters of its Europe, Middle East and Africa business from Amsterdam to London by the end of 2014.
The announcement comes after a row over corporate tax avoidance and the move means the company will pay more tax in the UK. Last year Starbucks paid £5m in corporation tax in its first since 2009 following pressure from politicians and campaigners.
"This move speaks for itself," said Starbucks EMEA president Kris Engskov. "London is the perfect place to grow our European business." A ‘modest number of senior executives’ will be relocated from Amsterdam to the UK in the move to ‘better oversee the UK market’.
More than 100 retail stores are planned across the UK this year, creating 1,000 jobs. Growth is also planned in other European markets, which has grown to more than 2,000 outlets in 35 countries since opening in Europe in 1998.