Hong Kong-based DFI Retail Group signed a conditional agreement with Maxim's Caterers on 30 September that will hand it full ownership of the licensed Starbucks business in seven Asian markets — Thailand, Hong Kong, Singapore, Vietnam, Cambodia, Macau and Laos. Together they account for more than 1,100 coffeehouses.
As part of the swap, Maxim's buys back DFI's 50% stake in the Maxim's group and pays roughly US$340 million in cash, unwinding a co-ownership that began in 1972. The deal still needs antitrust clearance, third-party consents and an internal carve-out of the Starbucks operations, with completion targeted for the first quarter of 2027.
DFI is betting on rising middle-class demand for specialty drinks across Asia. The move also fits Starbucks' wider international reshuffle, in which the chain has increasingly leaned on local partners, including in China.
Source: DealStreetAsia