SEATTLE, U.S. – Starbucks Corp. said Thursday it is acquiring the 50% stake in its East China joint venture it does not already own. The company will assume 100% ownership of about 1,300 Starbucks stores in Shanghai and Jiangsu and Zhejiang Provinces.
The coffee store chain said it is still committed to operating more than 5,000 stores in Mainland China by 2021.
The deal is worth approximately $1.3 billion (USD) — the largest single acquisition in the company’s history, according to the coffee giant.
you are not required to purchase anything for certain limited use of Comunicaffe International.
However, if you do not purchase a subscription, your access to our contents will be limited.
For further information about our subscriptions please visit the subscription page.
If you are already subscribed please type here your credentials: