KKR, Fountainvest, and PAG are interested in buying a stake in Starbucks’ China business, as the coffee chain seeks to boost sales, as reported by multiple sources.

Domestic firms, including China Resources Holdings and Meituan, have also been approached as potential buyers.

The size of the stake being sold has not been finalized and will depend on negotiations.

Reports indicate that Starbucks may prefer a franchisee agreement with a strategic partner, which could value Starbucks China at over US$1 billion.

Recent Starbucks developments