People walk past a Starbucks coffee shop in Beijing, China, November 4, 2025. REUTERS/Tingshu Wang TPX IMAGES OF THE DAY

Starbucks SBUX-Q said it would sell control of its operations in China to Boyu Capital in a deal that values the business at US$4-billion ($5.6-billion) – one of the largest divestments of a China unit by a global consumer company in recent years.

The Seattle-based coffee chain said the funds from investment firm Boyu will help it jump-start growth in the world’s second-largest economy, where local rivals like Luckin and Cotti now offer lattes for 9.9 yuan ($1.40) – less than a third of Starbucks’ prices.

“We aim to bring the Starbucks experience to more customers, in more cities across China. We see a path to grow from today’s 8,000 Starbucks coffee houses to more

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