AdvertisementAdvertisementBusinessA Starbucks outlet in Singapore. (File photo: Facebook/Starbucks Singapore)01 Oct 2026 10:01AM (Updated: 01 Oct 2026 10:10AM) Bookmark Bookmark WhatsApp Telegram Facebook Twitter Email LinkedInAdd CNA as a trusted source to help Google better understand and surface our content in search results.Read a summary of this article on FAST.Get bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST DFI Retail Group said on Wednesday (Sep 30) its unit will assume Maxim's Caterers' existing interests in the Starbucks -licensed business across seven Asian markets, as part of a reorganisation initiative.Maxim's will pay DFI US$340 million in cash and buy back the 50 per cent stake the latter currently holds in the Hong Kong-based food and beverage conglomerate.The Starbucks-licensed business includes 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.Show MoreShow LessHong Kong-based retailer DFI expects the business to contribute US$600 million to US$650 million to its total subsidiaries' revenue from April to December 2027 and about US$900 million on a full-year basis in 2028.With the expansion of Asia's middle class, higher disposable incomes and increased spending on speciality coffee and tea, DFI said its Starbucks-licensed business has strong tailwinds.The DFI transaction comes as Starbucks reshapes its global business under CEO Brian Niccol, who has closed coffeehouses and cut corporate jobs in North America to restore profitability.In Asia, Starbucks completed a China joint venture in April that gave Boyu Capital a 60 per cent stake in its retail operations while retaining 40 per cent. It is also weighing a sale of a majority stake in its Japan business, Reuters reported this month.Separately, DFI raised its 2027 dividend payout ratio to 80 per cent and maintained its 2028 underlying profit outlook between US$310 million and US$350 million.Cold Storage, Giant supermarket chains in Singapore to be acquired by Malaysian company in S$125m dealSource: Reuters/rlNewsletterWeek in ReviewSubscribe to our Chief Editor’s Week in ReviewOur chief editor shares analysis and picks of the week's biggest news every Saturday.NewsletterMorning BriefSubscribe to CNA’s Morning BriefAn automated curation of our top stories to start your day.Sign up for our newslettersGet our pick of top stories and thought-provoking articles in your inboxSubscribe hereGet the CNA appStay updated with notifications for breaking news and our best storiesDownload hereGet WhatsApp alertsJoin our channel for the top reads for the day on your preferred chat appJoin hereAlso worth readingContent is loading...Expand to read the full storyGet bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST