Starbucks entered the Israeli market two years ago and currently has six stores in Israel. "It was a very difficult decision," said Mark McKeon, president of Starbucks Coffee International for Europe, Middle East and Africa.

"Following months of serious discussions and market reviews with the Delek Group, we came to this amicable and mutual decision. Our commitment in the market continues to be strong and long-term and we will return at an appropriate time."

According to a statement to the Tel Aviv Stock Exchange, the agreement to operate the chain will be canceled effective today.

Starbucks was established in 1971 in Seattle, and has built itself into a global cofeehouse brand in over 20 countries.