27 Jul '17, 11am

[email protected] to acquire remaining shares of East China & operate all stores in Mainland China

Company announces agreements to acquire the remaining 50% of its East China JV and divest its 50% interest in its Taiwan JV; both transactions undertaken with long-term JV partners President Chain Store Corporation and Uni-President Enterprises Corporation Company Reaffirms Its Commitment to Operating 5,000 Stores in Mainland China by 2021 SEATTLE; July 27, 2017 – Starbucks Corporation (Nasdaq: SBUX) today announced entry into a definitive agreement to acquire the remaining 50% share of its East China (“East China JV”) business from long-term joint venture partners, Uni-President Enterprises Corporation (“UPEC”) and President Chain Store Corporation (“PCSC”) for approximately $1.3 billion in cash consideration in the largest single acquisition in the company’s history. Starbucks will assume 100% ownership of approximately 1,300 Starbucks stores in Shanghai and Jiangsu and ...

Full article: https://news.starbucks.com/press-releases/starbucks-acqui...

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