US EditionStarbucks takes another step in the right direction — plus, mixed reviews on cyber stocks
- Starbucks has begun discussions with investors such as private equity and technology firms about potentially selling a stake in its Chinese operations, reaching out to several parties this week to explore ways to expand the business.
- The company initiated this review due to macroeconomic and competitive pressures in China, where local rivals have gained market share.
- Starbucks operates over 7,750 stores in China, generating about $740 million in net revenue last quarter, trailing competitors like Luckin Coffee.
- CEO Brian Niccol emphasized Starbucks' long-term dedication to the Chinese market, highlighting strong growth prospects despite recent difficulties.
- This strategic assessment may lead to a transaction valued at several billion dollars, though Starbucks might also opt not to proceed with a deal.
11 Articles
11 Articles
Starbucks Is Said to Kick Off Process to Sell Stake in Sprawling China Business
Starbucks Corp. has contacted private equity firms, technology companies and others as it considers options for its China business, including a possible stake sale, according to people familiar with the matter.
SSP launches in Bulgaria with Starbucks and Camden food co. at Sofia Airport
SSP, an operator of food and beverage outlets in travel locations worldwide, recently made its debut in Bulgaria with the opening of its first units, a Starbucks coffee shop and a Camden food co. outlet, at Sofia International airport. Located in the Terminal 2 airside departures area, the units were officially opened earlier this month and are the first of a number of new outlets. SSP is partnering with airport operator, SOF Connect, as part of…
Starbucks may sell part of its China business in multi-billion deal
According to Bloomberg sources familiar with the matter, Starbucks Corp. has contacted private equity firms, technology firms, and others as it considers options for its China business, including a possible stake sale. The company recently contacted a limited number of potential investors anonymously through a financial advisor to gather feedback on its growth strategy in China. The possible deal will reportedly estimate the total value of the C…
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