DFI Retail to take over Maxim's Starbucks-licensed business in seven Asian markets
SBUX•DFI Retail said its unit will assume Maxim's interests in the Starbucks-licensed business across seven Asian markets. Maxim's will pay DFI $340 million in cash and buy back DFI's 50% stake in the Hong Kong-based food and beverage group.
1. Business transfer terms
The Starbucks-licensed business includes more than 1,100 coffeehouses in Thailand, Hong Kong, Singapore, Vietnam, Cambodia, Macau and Laos. DFI said the business will be immediately revenue and operating-margin accretive to its core retail business after completion, with further potential from operating synergies.
2. Revenue and outlook
DFI expects the business to contribute $600 million to $650 million to total subsidiaries' revenue from April to December 2027, and about $900 million for full-year 2028. Separately, DFI raised its 2027 dividend payout ratio to 80% and maintained its 2028 underlying profit outlook of $310 million to $350 million.
