---
schema_version: "secwatch.filing_event.v1"
accession: "0000829224-25-000079"
form_type: "8-K"
ticker: "SBUX"
cik: "0000829224"
company_name: "STARBUCKS CORP"
filed_at: "2025-11-03T23:59:59+00:00"
generated_at: "2026-05-17T01:00:57.932649+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Starbucks sells up to 60% of China retail ops to Boyu Capital in $4B deal

## Summary
- Boyu Capital to acquire up to 60% interest in Starbucks China retail at ~$4B enterprise value; Starbucks retains 40%.
- Starbucks expects total value of China business to exceed $13B from proceeds, retained stake, and licensing NPV.
- JV to operate ~8,000 stores, targeting 20,000; deal expected to close Q2 FY2026, pending regulatory approvals.
- Starbucks continues to own and license the brand and IP to the new entity.
- Partnership aims to accelerate growth combining Starbucks' brand with Boyu's local market expertise.

## SEC filing metadata
- accession: 0000829224-25-000079
- form_type: 8-K
- ticker: SBUX
- cik: 0000829224
- company_name: STARBUCKS CORP
- filed_at: 2025-11-03T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/829224/000082922425000079/0000829224-25-000079-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/829224/000082922425000079/sbux-20251103.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000829224-25-000079
- JSON: https://secwatch.observer/filing/0000829224-25-000079.json
- Plain text: https://secwatch.observer/filing/0000829224-25-000079.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.