Carlyle, EQT Among Final Bidders for Starbucks China: Reuters

Sept. 11, 2025, 7:21 AM UTC

Carlyle Group, EQT, HongShan Capital Group and Boyu Capital are preparing final offers for a controlling stake in Starbucks’ China operations, Reuters reports, citing people familiar with the matter.

  • Primavera Capital is also in the final round of bidders, but likely to team up with one of the four primary bidders, two of the people said
  • Starbucks has asked suitors to submit binding bids by early October, three of the people said
    • An agreement could be reached by the end of next month, one of them said
    • Terms of the deal structure, including the size of the stake being ...



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