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Reuters
2 days ago
- Business
- Reuters
Starbucks has received 'a lot of interest' for China business stake, CEO tells FT
June 11 (Reuters) - Starbucks has received "a lot of interest" in the sale of a stake in its China business, its chief executive told the Financial Times in an interview published on Wednesday, as the U.S. coffee chain looks to revive sales in its second-largest market. "The good news is we've got a lot of interest — a lot of interest," Starbucks CEO Brian Niccol told the FT. "People see the value of the Starbucks brand. They see the coffee category is growing. I think they'd love to be partnering up with us in figuring out how we take this from 8,000 to 20,000 (stores)." KKR & Co (KKR.N), opens new tab, Fountainvest Partners and PAG are among buyout firms interested in acquiring a stake in Starbucks' China business, Reuters reported in February.
Yahoo
2 days ago
- Business
- Yahoo
Starbucks has received 'a lot of interest' for China business stake, CEO tells FT
(Reuters) -Starbucks has received "a lot of interest" in the sale of a stake in its China business, its chief executive told the Financial Times in an interview published on Wednesday, as the U.S. coffee chain looks to revive sales in its second-largest market. "The good news is we've got a lot of interest — a lot of interest," Starbucks CEO Brian Niccol told the FT. "People see the value of the Starbucks brand. They see the coffee category is growing. I think they'd love to be partnering up with us in figuring out how we take this from 8,000 to 20,000 (stores)." KKR & Co, Fountainvest Partners and PAG are among buyout firms interested in acquiring a stake in Starbucks' China business, Reuters reported in February. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
South China Morning Post
15-05-2025
- Business
- South China Morning Post
Starbucks kicks off process to sell stake in its sprawling China business as growth stalls
Starbucks 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. Advertisement The coffee chain sent out letters via a financial adviser to several potential investors this week to solicit views on the China business and how to grow it, the people said, asking not to be identified because the process is private. A transaction could value the assets at several billion dollars, the people said. Bloomberg News reported previously that Starbucks was assessing its operations in China, its second-biggest market. The company has warned of macroeconomic and competitive pressures in the country, where the likes of Luckin Coffee and Cotti Coffee have emerged as major home-grown players. Starbucks, which had more than 7,750 stores in China as of the end of March, generated about US$740 million net revenue in the country in the quarter through March. Luckin's net revenue was US$1.2 billion in the same period. A COTTI coffee shop in Beijing on August 1, 2024. Photo: AFP Prospective bidders are expected to submit initial feedback in the next few weeks, the people said. Starbucks may also decide not to do a deal, they said.
