Starbucks said it completed the transaction with Boyu Capital to form a joint venture, which it had previously disclosed on November 3, 2025, following the satisfaction of all necessary closing conditions on April 2, 2026.

1. 01

   Starbucks said it completed the transaction with Boyu Capital to form a joint venture, which it had previously disclosed on November 3, 2025, following the satisfaction of all necessary closing conditions on April 2, 2026.

2. 02

   The company said funds managed by Boyu Capital acquired a 60% interest in Starbucks China retail operations, while Starbucks retained a 40% interest and continues to own and license the global brand.

3. 03

   Starbucks said the joint venture oversees approximately 8,000 company-operated coffeehouses today, which will transition to a licensed operating model, with a shared long-term aspiration to grow to as many as 20,000 locations over time.

4. 04

   The company cited as forward-looking statement risk factors the possibility that the expected benefits of the joint venture will not be realized or will not be realized within the expected time period, significant transaction costs, and the risk of litigation and regulatory actions relating to the transaction.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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