Private Equity Giants Vie for Starbucks China in High-Stakes Final Bidding Round
Starbucks' China business has become the focal point of a fierce competition among global private equity heavyweights as the auction enters its decisive phase. Carlyle Group, EQT, Boyu Capital, HongShan, and Primavera Capital are reportedly leading the chase for a stake valued at up to $5 billion.
The coffee chain plans to retain significant ownership while ceding partial control, with a deal expected to close by late October. Market observers view this as a bellwether for foreign brands navigating China's complex consumer landscape.
Starbucks shares have underperformed this year, shedding 9% amid broader market volatility. The China unit's sale represents a strategic pivot rather than retreat, with the region contributing substantially to global revenue.
