Deals
Starbucks to Buy Out Chinese Venture in Its Biggest Deal Yet
- Coffee chain will pay $1.3 billion to unify the business
- Starbucks aims to have 5,000 cafes in the country by 2021
Breaking Down Starbucks' Tepid Third-Quarter Results
This article is for subscribers only.
Starbucks Corp. is buying the rest of its East China joint venture in a $1.3 billion transaction, marking the biggest deal ever for a company that sees China as a huge growth opportunity.
The Seattle-based coffee chain will acquire the remaining 50 percent of the business from partners President Chain Store Corp. and Uni-President Enterprises Corp. Starbucks also is divesting its 50 percent stake in a separate joint venture in Taiwan, according to a statement Thursday.