Key facts
- DFI Retail Group will take over Starbucks licensed operations in seven Asian markets.
- The deal involves over 1,100 Starbucks stores.
- Maxim's Caterers is transferring the Starbucks business.
Hong Kong-based DFI Retail Group is set to acquire the licensed operations for over 1,100 Starbucks stores across seven Asian markets from Maxim's Caterers. The move is intended to capitalize on the increasing spending on coffee and tea by the region's growing middle class. The transaction marks a significant shift in a long-standing business relationship between the two Hong Kong entities.