Singapore-listed DFI Retail Group said on Wednesday its unit will assume Maxim’s Caterers’ existing interests in Starbucks businesses across seven Asian markets for a cash consideration of $340 million.
Maxim’s Caterers, a Hong Kong-based food and beverage conglomerate, currently operates a network of over 1,100 Starbucks coffeehouses in Thailand, Hong Kong, Singapore, Vietnam, Cambodia, Macau and Laos.
“Post-completion, the Starbucks licensed business will be immediately revenue and operating margin accretive to the Group’s core retail business, with further upside from operating synergies,” DFI said in its statement.
Separately, the Singapore-listed firm raised its 2027 dividend payout ratio to 80% and maintained its 2028 underlying profit outlook between $310 million and $350 million.
Reuters
