Boyu Capital is frontrunner for controlling stake in Starbucks China

Core Insights - Boyu Capital is the leading contender to acquire a controlling stake in Starbucks's China operations, potentially valuing the business at over $4 billion [1][2] - The negotiations between Starbucks and Boyu are expected to take several months and are not guaranteed to result in a deal [1] - Starbucks's China operations have drawn interest from over 20 potential investors during the fundraising process [4] Company Overview - Starbucks launched its first store in mainland China in 1999 and currently operates 7,800 outlets across 250 cities [3] - The company reported attributable net earnings of $558.3 million for Q3 FY25, a decline of 47% year-on-year, while consolidated net revenues grew almost 4% to $9.45 billion [5] Investment Landscape - Boyu Capital, established in 2011, invests across various sectors including real estate, infrastructure, private equity, and renewable energy [3] - Other investors, including internet companies, may participate as limited partners to co-finance the potential transaction [2]