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Starbucks Corp (NASDAQ:SBUX) shares are heating up in after-hours trading on Monday after the company announced a joint venture for its operations in China.
What To Know: Starbucks entered into an agreement with Boyu Capital to form a joint venture to operate the company’s retail locations in China.
Under the agreement, Boyu will acquire up to a 60% stake in Starbucks’ retail operations in China based on an enterprise value of approximately $4 billion. Starbucks will retain a 40% interest in the joint venture and will continue to own and license the Starbucks brand and intellectual property to the new entity.
“Boyu’s deep local knowledge and expertise will help accelerate our growth in China, especially as we expand into smaller cities and new regions,” said Brian Niccol, chairman and CEO of Starbucks.
“We’ve found a partner who shares our commitment to a great partner experience and world-class customer service. Together we will write the next chapter of Starbucks storied history in China.”
Starbucks expects to finalize the joint venture deal with Boyu in the second quarter of fiscal 2026.
SBUX Price Action: Starbucks shares were up 0.21% in after-hours, trading at $81.13 at the time of publication on Monday, according to Benzinga Pro.
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Posted In: SBUX
