Through $1.3 Billion JV Acquisition, Starbucks Will Operate All Starbucks Stores in Mainland China

Seattle — Starbucks Corporation has entered into a definitive agreement to acquire the remaining 50% share of its East China (East China JV) business from joint venture partners, Uni-President Enterprises Corporation (UPEC) and President Chain Store Corporation (PCSC) for approximately $1.3 billion in cash consideration in the largest single acquisition in the company’s history.

Starbucks Names New CEO

Seattle — Kevin Johnson, president and chief operating officer of Starbucks Corporation and a 7-year member of the Starbucks board of directors, will assume the role and responsibilities of president and chief executive officer, effective April 3, 2017.

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