Gao Ling Capital participates in the bidding for Starbucks China business.

Foreign media reported that, according to informed sources, Hillhouse Capital recently participated in a reverse roadshow of Starbucks China, expressing interest in acquiring Starbucks China's business. The roadshow also attracted participation from several investment institutions such as Carlyle Group and Source Code Capital. The transaction structure has not been finalized yet. Starbucks China is estimated to be valued at around 5 to 6 billion US dollars, with Goldman Sachs serving as the exclusive financial advisor. The transaction is expected to continue until 2026. By 2024, Starbucks had achieved a net income of 3 billion US dollars in China, with 7685 stores, facing fierce competition from local brands such as Luckin Coffee and Hey Tea.