Starbucks and Boyu Capital Finalize Joint Venture to Accelerate Growth in China

The deal supports Starbucks' disciplined expansion in one of its most important global markets.

Apr. 2, 2026 at 11:10pm

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A high-end, photorealistic studio still-life photograph featuring a polished, metallic Starbucks coffee cup and saucer set against a clean, monochromatic background, symbolizing the strategic partnership between the two companies.The strategic joint venture between Starbucks and Boyu Capital aims to accelerate the coffee giant's growth across the lucrative Chinese market.Seattle Today

Starbucks Coffee Company has officially closed its previously announced joint venture with Boyu Capital, a leading Chinese private equity firm. The partnership is aimed at accelerating Starbucks' growth and expansion across China, which the company has identified as one of its most exciting long-term opportunities globally.

Why it matters

This joint venture allows Starbucks to leverage Boyu Capital's local market expertise and resources to drive a more disciplined and strategic expansion of its footprint in China, which is a critical growth market for the coffee giant.

The details

Under the terms of the deal, Starbucks and Boyu Capital will work together to open new Starbucks locations, improve supply chain operations, and enhance the overall customer experience for Chinese consumers. The partnership is expected to support Starbucks' goal of having 6,000 stores in China by 2027.

  • Starbucks and Boyu Capital announced the joint venture in January 2026.
  • The deal officially closed on April 2, 2026.

The players

Starbucks Coffee Company

A leading global coffee company that operates over 30,000 stores worldwide.

Boyu Capital

A prominent Chinese private equity firm that invests in a variety of industries, including consumer and retail.

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What’s next

Starbucks and Boyu Capital will now work to implement their joint growth strategy, with the goal of reaching 6,000 Starbucks locations in China by 2027.

The takeaway

This joint venture demonstrates Starbucks' continued commitment to the Chinese market and its willingness to partner with local firms to drive its expansion plans in the country. The deal is expected to bolster Starbucks' competitive position in the rapidly growing Chinese coffee industry.