Starbucks has confirmed it is exploring a partial sale of its China business, with more than 20 firms reportedly expressing strong interest, according to comments from CEO Laxman Narasimhan made during the company’s Q3 FY2025 earnings call. While stressing the company’s long-term commitment to the market, he emphasized Starbucks is seeking a partner aligned in values to unlock operational efficiency and future growth in China. The coffee chain intends to retain a significant equity stake. According to Caixin, firms including Hillhouse and KKR attended recent buyout briefings. Despite Starbucks’ China sales rebounding for two straight quarters, high valuation expectations reportedly remain a hurdle for private equity bidders. [Caixin, in Chinese]
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