DFI Retail unit to take over Maxim's Starbucks business in Asia for $340 million
SBUX•DFI Retail said its unit will take over Maxim's existing Starbucks businesses in seven Asian markets for $340 million. DFI also raised its 2027 dividend payout ratio to 80% and maintained its 2028 underlying profit outlook of $310 million to $350 million.
1. Starbucks business deal
DFI Retail said its unit will assume Maxim's Caterers' existing interests in Starbucks businesses across Thailand, Hong Kong, Singapore, Vietnam, Cambodia, Macau and Laos for $340 million in cash. Maxim's currently operates more than 1,100 Starbucks coffeehouses in those markets.
2. Revenue and outlook
DFI said the licensed Starbucks business will be immediately revenue and operating margin accretive to its core retail business after completion, with further upside from operating synergies. Separately, the company raised its 2027 dividend payout ratio to 80% and maintained its 2028 underlying profit outlook at $310 million to $350 million.
