DFI Retail Group unit to buy Maxim’s Starbucks business in Asia for $340 million
DFI Retail Group said its unit will assume Maxim’s Caterers’ Starbucks interests across seven Asian markets for $340 million, covering more than 1,100 stores. The deal follows DFI’s raised 2027 dividend payout ratio to 80% and its 2028 underlying profit outlook of $310 million to $350 million.
(Updates with further details from paragraph 2 onwards) Sept 30 (Reuters) — 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. com;)