Starbucks Corp

SBUX: XNAS (USA)

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Starbucks: Stake Sale in China and Local Partnership Should Ease Competitive Concerns

Dan Su

Nov 4, 2025

Starbucks agreed to form a joint venture with Boyu Capital in China and sell a 60% stake in the joint venture for $4 billion. It values the China operations at $13 billion, including the joint venture and net present value of licensing fees over the next decade or more.

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Starbucks Corp

Starbucks: Stake Sale in China and Local Partnership Should Ease Competitive Concerns

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