Starbucks cedes China control to Boyu Capital
Starbucks has announced it will sell a controlling stake in its Chinese retail operations as it seeks to revitalise performance in a fiercely competitive market it once dominated. Hong Kong-based investment firm Boyu Capital will hold up to 60 percent of a new joint venture operating 8,000 Starbucks stores across China, under a deal which […]
Starbucks receives bids for stake in China business: US media
Starbucks has received around 30 offers from investment firms seeking a stake in the company’s China business, US media reported Wednesday. The coffee chain’s China business, its second biggest after its US operation, drew non-binding offers from a mix of Chinese and foreign private equity firms valuing the enterprise at between $5 and $10 billion, […]