90% of China’s Restaurants Close, KFC Shuts, McDonald’s Pulls Out, Starbucks Sold for $2.4B
90% of China’s Restaurants Close, KFC Shuts, McDonald’s Pulls Out, Starbucks Sold for $2.4B
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On November 4, a bombshell announcement shook the industry: Starbucks sold 60% of its China operations to Boyu Capital Investment Management, while retaining 40% ownership and brand control at its Seattle headquarters. This is not just a restructuring of its shareholding, but a profound reshaping of the global coffee giant’s presence in the Chinese market.
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