Private company
Who owns Starbucks China retail joint venture (with Boyu Capital)
One company in the researched set discloses a stake in Starbucks China retail joint venture (with Boyu Capital), worth $1.20bn between them. Starbucks China retail joint venture (with Boyu Capital) is private, so no 13F reports it: a 13F covers exchange listed positions only. These figures exist because each holder disclosed the stake in its own filings.
Starbucks China retail joint venture (with Boyu Capital) - Profile
- Type
- joint venture
- Based in
- China
- Founded
- 2026
This joint venture runs the Starbucks coffeehouse business in mainland China, taking over roughly 8,000 company operated stores that moved to a licensed operating model when the venture closed on 2 April 2026. The Hong Kong based private equity firm Boyu Capital holds 60 percent and provides capital and local market access, while Starbucks retains 40 percent and continues to own and license the brand and intellectual property, collecting ongoing licensing income; the venture was announced in November 2025 in a transaction that valued the retail operation at about 4 billion dollars for the controlling stake. Its stated plan is to push into smaller Chinese cities, adapt drinks, food and store formats to local tastes and eventually operate as many as 20,000 outlets, in a market where domestic chains have been taking share on price.
Source
Starbucks China retail joint venture (with Boyu Capital) files nothing with the SEC, so none of this comes from a filer record. The description was written for this site in August 2026 from Starbucks and Boyu Capital Finalize Joint Venture to Accelerate Long Term Growth in China (Starbucks investor relations), Starbucks to form joint venture with Boyu Capital to run China business (CNBC) and Starbucks and Boyu Announce Joint Venture for the Next Chapter of Growth in China (Starbucks Stories). The ownership figures below come from the holders' filings instead, and are sourced row by row.
The disclosed stakes
One row per position. Where a holder reports the same company in two share classes, both rows are shown rather than summed, because the class is part of a position's identity.
Where each figure comes from
A private stake has no ownership form behind it, so the source is always the holder's own filing or disclosure. Anything modelled says so, with the arithmetic.
- Starbucks Corporation, as of 28 Jun 2026. Transaction closed 30 March 2026 (Q3 FY2026 10-Q, Note 2: Acquisitions and Divestitures). Starbucks retained a 40% interest of approximately $1.2 billion, accounted for under the equity method; the 10-Q separately states that as of 28 June 2026 the carrying value of this investment was $1.2 billion, i.e. unchanged to the nearest $0.1 billion since close. The carrying value reflects debt raised by the joint venture in conjunction with the transaction. Starbucks received total consideration of $3.1 billion (inclusive of its share of debt proceeds financed by the newly formed joint venture), derecognized net assets with a carrying value of $3.4 billion, reclassified $282.8 million of cumulative translation adjustment losses and $99.7 million of net investment hedge losses from AOCI into earnings, and recognized a pre-tax gain of $536.3 million. source
What this page is not
It is not a complete register. It lists the holders who happen to be inside the researched set and disclosed the stake themselves. A private company can have many other shareholders, and nothing here rules them out: venture investors, founders and employees usually appear in no public filing at all. Percentages are of Starbucks China retail joint venture (with Boyu Capital) where a holder stated one, and are missing where no holder did.