Starbucks Coffee Company (NASDAQ: SBUX) announced the closing of its joint venture with Boyu Capital for its China retail operations. Under the agreement, funds managed by Boyu Capital hold a 60 percent stake in Starbucks China retail operations, while Starbucks retains a 40 percent ownership interest.

The joint venture oversees approximately 8,000 company-operated coffeehouses that will transition to a licensed operating model. The companies share a goal to grow to as many as 20,000 locations over time.

Starbucks continues to own and license the brand and intellectual property to the joint venture. The transaction was initially announced in November 2025, according to the press release.

"China remains one of the most exciting long-term opportunities for Starbucks, and finalizing this partnership with Boyu accelerates our ability to grow with intention and discipline," said Brian Niccol, chairman and chief executive officer of Starbucks Coffee Company.

Molly Liu serves as chief executive officer of Starbucks China under the new structure. Alex Wong, Partner at Boyu Capital, stated the firm is "proud to support Starbucks next chapter of growth in China."

Boyu Capital, founded in 2011, is an alternative investment firm with offices in Hong Kong, Beijing, Shanghai and Singapore. The firm has over 200 portfolio companies in its investment platform spanning private equity, public equity, infrastructure and venture investing.

The information is based on a company press release statement.