“抢地盘”戏码频频上演，餐饮业开始“拼桌”了

Core Viewpoint - Recent news indicates that Luckin Coffee's major shareholder, Dazhong Capital, is considering a bid for Costa Coffee, which is reportedly up for sale by Coca-Cola, with discussions still in preliminary stages [1][2] Group 1: Company Developments - Luckin Coffee has successfully turned around its business, surpassing Starbucks to become the largest coffee company in China in 2023, following a period of losses and significant compensation [1] - In Q3 2023, Luckin Coffee reported total net revenue of 15.287 billion yuan, a year-on-year increase of 50.2%, with a GAAP operating profit of 1.777 billion yuan and an operating profit margin of 11.6% [1] - The CEO of Luckin Coffee, Guo Jinyi, stated there is no clear timetable for the company's return to the main board for listing [2] Group 2: Industry Trends - The coffee and fast-food sectors are experiencing a wave of mergers and acquisitions, with significant investments such as CPE Yuanfeng's $350 million injection into Burger King China, aiming to expand its stores from 1,250 to over 4,000 by 2035 [1][2] - Costa Coffee currently has 341 stores in China, but its expansion has been slow due to a conservative strategy, leading to a perception of high prices among consumers [2] - The current M&A landscape in the restaurant industry shows three notable trends: controlling acquisitions becoming mainstream, increasingly complex transaction structures, and a diverse range of acquisition entities including private equity and industry capital [3]