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Starbucks just announced its largest acquisition in the brand&rsquo;s history. On Thursday, the fan favorite coffee chain said that it will become the full owner of its East China joint venture. <a href="http://www.foxbusiness.com/features/2017/07/27/starbucks-takes-full-ownership-east-china-business.html?utm_source=1851franchise.com&utm_medium=article&utm_campaign=fox-business-starbucks-takes-full-ownership-of-east-china-business-2703440" target="_blank" rel="nofollow" target="_blank">According to a Fox Business article</a>, the move is a part of Starbucks&rsquo; plan to increase its presence across Asia.

Starbucks is acquiring the remaining 50 percent stake from Unit-President Enterprises Corp. and President Chain Store Corp for about $1.3 billion in cash. After the deal is finalized, the coffee chain will operate 1,300 stores in the Shanghai and Jiangsu and Zhejiang Provinces, in addition to the company&rsquo;s previously laid out plan to operate 5,000 stores in mainland China&mdash;which is its fastest growing market&mdash;by 2021.

Starbucks&rsquo; chief executive, Kevin Johnson, said, &ldquo;Unifying the Starbucks business under a full company-operated structure in China reinforces our commitment to the market and is a firm demonstration of our confidence in the current local leadership team.&rdquo;

To read the full article, <a href="http://www.foxbusiness.com/features/2017/07/27/starbucks-takes-full-ownership-east-china-business.html?utm_source=1851franchise.com&utm_medium=article&utm_campaign=fox-business-starbucks-takes-full-ownership-of-east-china-business-2703440" target="_blank" rel="nofollow" target="_blank">click here</a>.

Fox Business: Starbucks Takes Full Ownership of East China Business

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The acquisition is the largest in the coffee chain’s history.

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