Luckin Coffee Backer Is Said in Advanced Talks for Blue Bottle

Centurium Capital Partners is in advanced talks to acquire Nestle SA’s Blue Bottle Coffee, according to people familiar with the situation.

The buyout firm, which helped turn around Chinese market leader Luckin Coffee Inc., is putting the final touches on a deal for the coffee roaster and retailer, the people said, asking not to be identified discussing private information.

While an agreement might be reached soon, there’s no guarantee yet, the people said. Centurium didn’t immediately respond to a request for comment. Nestle declined to comment.

Centurium and Luckin have been assessing various coffee-chain targets including Blue ...