DFI to take full control of Starbucks in Asia
DFI Retail Group is acquiring full control of Starbucks operations across seven Asian markets by ending its 50-50 partnership with Hongkong Caterers. The deal, valued at approximately US$340 million, allows DFI to focus on direct business management while the partner retains other restaurant brands.
Why it matters
This restructuring marks a significant consolidation of major food and beverage operations in the Asian market.
DFI will take control of Starbucks operations across Singapore, Hong Kong, Macau, Thailand, Vietnam, Cambodia and Laos.
Listen Summarise DFI Retail Group will fully control Starbucks operations in seven Asian markets, ending its 50-50 partnership with Hongkong Caterers in Maxim’s Caterers. DFI will give up its 50% stake in Maxim’s for about US$340 million, focusing on direct business control and expanding Starbucks with US-listed Starbucks Corporation. Maxim’s, now solely owned by Hongkong Caterers, will continue growing its restaurant and bakery brands across Asia, investing in expansion and employee development. AI generated
SINGAPORE – DFI Retail Group is set to take full control of Starbucks operations across seven Asian markets including Singapore, in a deal that effectively breaks up its longstanding 50-50 partnership with Hongkong Caterers in Maxim’s Caterers.
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