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Starbucks Acquires Full Ownership of Starbucks Stores in Central, South & Western China

SEATTLE, June 01, 2011 - Starbucks Coffee Company (NASDAQ:SBUX) today announced the signing of a contractual agreement with Maxim’s Caterers Ltd, its long time joint-venture partner in South China, including Hong Kong and Macau. Starbucks has assumed 100 percent equity of its business in the important China provinces of Guangdong, Hainan, Sichuan, Shaanxi and Hubei, and the municipality of Chongqing. As a result, Starbucks now has full control of more than half of the Starbucks retail stores in Mainland China as it looks to accelerate growth in the future.

Also as part of the agreement, Maxim’s has acquired Starbucks remaining equity stake in the Hong Kong and Macau markets, assuming 100 percent equity of those markets.
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