Starbucks closes China JV with Boyu; Boyu takes 60% stake, SBUX retains 40%

STARBUCKS CORP

JV completes previously announced transaction; Boyu Capital funds now hold 60% of Starbucks China retail operations.
Starbucks retains 40% ownership and continues to own/license the global brand to the JV.
JV oversees ~8,000 company-operated coffeehouses; long-term aspiration to grow to 20,000 locations.
Partnership aims to accelerate disciplined expansion, hyper-localization, and digital engagement in China.

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