Starbucks Forms China Joint Venture With Boyu Capital, Selling 60% Stake In Retail Operations In China; Starbucks Expects The Total Value Of Its China Retail Business To Exceed $13B

Author: Benzinga Newsdesk | November 03, 2025 05:05pm

On November 3, 2025, Starbucks announced it has entered an agreement to form a joint venture with Boyu Capital. Under the agreement, Boyu Capital will acquire up to a 60% interest in Starbucks retail operations in China. Starbucks will retain 40% interest and will serve as the owner and licensor of the Starbucks global brand. Starbucks expects the total value of its China retail business to exceed $13 billion, composed of three sources: proceeds from the sale of a controlling interest in the joint venture to Boyu Capital, the value of Starbucks retained interest in the joint venture, and the net present value of ongoing licensing economics payable to Starbucks over the next decade or more.

Posted In: SBUX