Summary
Starbucks is selling a 60% stake in its China business to Boyu Capital for $4 billion. Starbucks will keep 40% of the business and still own the Starbucks brand in China. The company plans to expand its store number significantly in China.
Key Facts
- Starbucks is selling a 60% stake in its China business.
- The deal is worth $4 billion.
- Boyu Capital is the company buying the majority stake.
- Starbucks will still own 40% of the China retail operation.
- Starbucks will keep owning the Starbucks brand in China.
- Starbucks entered the Chinese market over 25 years ago.
- China is Starbucks' second-largest market outside the United States.
- Starbucks plans to grow from 8,000 to 20,000 locations in China.
