05:42 PM EST, 11/03/2025 (MT Newswires) -- Starbucks ( SBUX ) said late Monday that it will form a joint venture with Boyu Capital to operate its China retail business, a move aimed at accelerating long-term growth in one of its key markets.

Under the agreement, Boyu will acquire up to a 60% stake in Starbucks' ( SBUX ) China retail operations, valuing the business at roughly $4 billion, while Starbucks ( SBUX ) will retain a 40% ownership interest and continue to license its brand and intellectual property to the venture.

Starbucks ( SBUX ) values its China business at over $13 billion and plans to expand from 8,000 to as many as 20,000 stores under the new Shanghai-based venture, the company said.

The transaction is expected to close in the second quarter of fiscal 2026.