DFI Retail Group, a subsidiary of Jardine Matheson, announced that it has reached an agreement with Hongkong Caterers Limited to restructure Maxim's Caterers Limited. Maxim's Caterers Limited is a joint venture formed between the two companies. The transaction is expected to be completed in Q1 next year.

Under the agreement, ownership of Coffee Concepts will be transferred to DFI as a subsidiary. Coffee Concepts, a subsidiary of Maxim's Caterers Limited, currently operates over 1,100 Starbucks stores across 7 Asian markets. These markets include Vietnam, Thailand, Singapore, Cambodia, Laos, Hong Kong, and Macau.

Ownership structure after the restructuring deal between DFI Retail Group and Hongkong Caterers Limited. Graphics: Trong Hieu (AI assisted).

Conversely, Hongkong Caterers will become the sole shareholder of Maxim's Caterers Limited. This entity will continue to manage and expand a network of over 1,000 restaurants and bakeries in 8 Asian markets, along with its confectionery and festive food segments.

According to DFI, the daily operations of the Starbucks chain and other brands under Maxim's Caterers will continue as normal after the restructuring. Hongkong Caterers and DFI Retail Group will maintain collaboration in areas such as procurement, supply chain, real estate, digital transformation, and loyalty programs.

Starbucks store at Ha Do Centrosa Garden complex, TP HCM. Photo: Starbucks Vietnam.

DFI Retail Group is a member unit of Jardine Matheson, a nearly 200-year-old investment conglomerate. Through its member units, Jardine Matheson currently owns over 26% of Thaco, a company owned by Tran Ba Duong, and 41,7% of Co Dien Lanh (REE). Additionally, the company licenses several brands in Vietnam, such as Pizza Hut, Schindler elevators, and the Guardian cosmetics chain.

In the first 6 months of the year, Jardine Matheson's investments in Vietnam generated 43 million USD in profit. This figure represents a 21% increase compared to the same period last year.