Starbucks to Sell Control of China Business in $4 Billion Deal

Starbucks to Sell Control of China Business in $4 Billion Deal

N
NTD
2 Video Views·Nov 5, 2025

Starbucks said on Nov. 3 that it is selling a majority stake in its China retail business to Hong Kong-based private equity firm Boyu Capital for $4 billion.

The retail coffee giant, which values the China business at more than $13 billion, will form a joint venture to revitalize growth in its second-largest market.

While Boyu will hold a 60 percent stake in the business, Starbucks will retain a 40 percent interest, including brand ownership and licensing rights. The business will remain headquartered in Shanghai.

Starbucks CEO Brian Niccol says both companies envision expanding the number of locations in China to 20,000 from the current 8,000 coffeehouses.
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