A PYMNTS Company

Japan: Starbucks to buy out 20-year-old joint venture

 |  September 24, 2014

Nearly two decades after coffee powerhouse Starbucks struck a partnership with Japan’s Sazaby League, reports say Starbucks is set to buy out the joint venture.

Japan is Starbuck’s second-largest market, reports say. The company plans to acquire Sazaby’s 60.5 percent stake in their partnership by the end of the year; reports say the deal is valued at $914 million.

Acquiring the partnership, first struck in 1995, would give the company the ability to expand in Japan’s grocery stores and further develop its product sales, reports say.

Starbucks’ location in Tokyo was its first opened outside of North America.

Full content: BBC

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.