Starbucks Corp has said it plans to buy the remaining 60.5 percent share of Starbucks Coffee Japan Ltd that it does not already own, in a two-step deal valued at about $913.5 million.
Starbucks Japan has operated as a joint venture between Starbucks and Sazaby League since 1995.
Over the summer, Sazaby approached Starbucks about selling its Starbucks Japan ownership stake to Starbucks, the world’s biggest coffee chain said in a statement.
Starbucks expects to have a controlling interest in Starbucks Japan before its fiscal first quarter ends on Dec 28th
Starbucks expects the joint venture to be immediately accretive to earnings, excluding items.
There are currently more than 1,000 Starbucks cafes in Japan, which is Starbucks’ second-largest in terms of revenue from its coffee shops.
SOURCE: http://www.cnbc.com/id/102026947
