DFI Retail Group to Acquire Starbucks Asia Business

DFI Retail Group entered into a conditional sale and purchase agreement with Maxim's Caterers on September 30, 2026, to acquire its Starbucks-licensed business across Asia. The transaction includes a network of more than 1,100 coffee houses operating in Thailand, Hong Kong, Singapore, Vietnam, Cambodia, Macau, and Laos.

Under the terms of the deal, Maxim's Caterers will buy back the 50 per cent stake DFI Retail Group holds in the F&B group. This repurchase will be funded through a cash payment of approximately US$340 million and the equity interest in the Starbucks business. DFI Retail Group expects the move to grant it "full operational control across all business segments" and drive immediate growth in revenue and operating margins, with revenues projected to reach US$900 million by 2028.

The acquisition remains subject to regulatory approvals and the internal separation of the business from Maxim's Caterers. The agreement establishes a long-stop date of March 31, 2027, which may be extended to June 30, 2027.