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As per the agency's sources, Starbucks has requested that investors submit their bids by early October. One of the sources mentioned that an agreement might be reached by the end of October. Among the investors taking part in the final round is the Chinese private equity firm Primavera Capital.
In August, Reuters disclosed that Starbucks approached ten prospective buyers to present non-binding offers for its Chinese operations by early September, with most appraising the deals at approximately $5 billion euros.
The sources from the agency indicate that the American company is prepared to select a buyer at last. They state that Starbucks intends to maintain a coffee roasting operation in China to ensure quality control.
The arrangement of a possible agreement and the extent of the share in Starbucks' China division to be divested are still under discussion, according to one of the sources.
The share of the American coffee chain in China has been decreasing in recent years because of increasing competition from local companies. In 2024, it stood at just 14%, in contrast to 34% in 2019, based on data from Euromonitor International.
source: reuters.com
In August, Reuters disclosed that Starbucks approached ten prospective buyers to present non-binding offers for its Chinese operations by early September, with most appraising the deals at approximately $5 billion euros.
The sources from the agency indicate that the American company is prepared to select a buyer at last. They state that Starbucks intends to maintain a coffee roasting operation in China to ensure quality control.
The arrangement of a possible agreement and the extent of the share in Starbucks' China division to be divested are still under discussion, according to one of the sources.
The share of the American coffee chain in China has been decreasing in recent years because of increasing competition from local companies. In 2024, it stood at just 14%, in contrast to 34% in 2019, based on data from Euromonitor International.
source: reuters.com