Starbucks considers selling majority stake in its Japan business: Reuters
Starbucks may sell a majority stake of its Japan business, their biggest overseas company-operated market, in a deal worth around $3 billion, sources say.
Starbucks is considering selling a majority stake in its Japan business, which could be valued at around $3 billion. The Japan operations comprise 1,883 stores and account for nearly 9% of the company's global footprint.
According to Investing.com, Starbucks has solicited pitches from financial advisers and is open to selling a majority stake, although the stake size and valuation are yet to be determined. A Starbucks spokesperson said the company continually assesses its structure to create value for shareholders and serve customers.
The potential sale was first reported by Bloomberg in June. A Starbucks spokesperson described the Japan business as strong, with deep brand affinity and a trusted presence built over 30 years in the region.
Brief written by urgent.news from CNBC, Investing.com — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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