Chain now controls more than half of its 400 stores in mainland China
In a move aimed at accelerating growth in China, Starbucks Corp. has taken ownership of its stores in certain regions in the country that were previously operated by joint-venture partner. The Seattle-based coffeehouse chain on Wednesday said it has signed an agreement with joint-venture partner Maxim’s Caterers Ltd., which gives Starbucks 100-percent equity of all of its businesses in the Chinese provinces of Guangdong, Hainan, Sichuan, Shaanxi and Hubei, as well as the municipality ...
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Contact: Desiree Torres Desiree.Torres@penton.com