(Reuters) -Starbucks has received “a lot of interest” in the sale of a stake in its China business, its chief executive told the Financial Times in an interview published on Wednesday, as the U.S. coffee chain looks to revive sales in its second-largest market. “The good news is we’ve got a lot of interest — […]
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Starbucks has received ‘a lot of interest’ for China business stake, CEO tells FT
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(Reuters) -Starbucks has received “a lot of interest” in the sale of a stake in its China business, its chief executive told the Financial Times in an interview published on Wednesday, as the U.S. coffee chain looks to revive sales in its second-largest market.
“The good news is we’ve got a lot of interest — a lot of interest,” Starbucks CEO Brian Niccol told the FT.
“People see the value of the Starbucks brand. They see the coffee category is growing. I think they’d love to be partnering up with us in figuring out how we take this from 8,000 to 20,000 (stores).”
KKR & Co, Fountainvest Partners and PAG are among buyout firms interested in acquiring a stake in Starbucks’ China business, Reuters reported in February.
(Reporting by Kanjyik Ghosh in Bengaluru; Editing by Saumyadeb Chakrabarty)