DFI to take over Starbucks franchise operations in seven Asian markets as Hong Kong Caterers gains full ownership of Maxim’s

DFI Retail Group and Hong Kong Caterers Limited announced an ownership restructuring agreement on 30 September 2026. All ownership interests in Coffee Concepts, Maxim’s Starbucks franchise business, will transfer to DFI, while Hong Kong Caterers will become Maxim’s sole shareholder. For those involved in or considering Hong Kong’s franchise market, the key development is a change in ownership and management of an existing multi-market operation—not new store openings or the recruitment of franchisees.

Starbucks business spans seven Asian markets

According to Orange News, am730 and Infocast, Coffee Concepts currently operates more than 1,100 coffee shops across seven Asian markets: Thailand, Hong Kong, Macao, Vietnam, Singapore, Cambodia and Laos. Under the agreement, all ownership interests in these operations will transfer to DFI Retail Group, which will manage the business.

This store count covers all seven markets; it is not the number of outlets in Hong Kong. Existing reports provide neither a separate Hong Kong store count nor new opening targets for the city, so the overall network size should not be interpreted as a local expansion plan.

DFI says it will invest in the business and work with Starbucks to improve the experience of customers and partners—Starbucks’ term for its employees—across its operating markets and support the franchise business’s growth. am730 quoted DFI Chief Executive Scott Price as describing the transfer as an important milestone in the group’s transition from a portfolio company to a focused operating company.

Hong Kong Caterers to take full ownership of Maxim’s

The other part of the transaction concerns ownership of Maxim’s itself. According to ET Net, DFI will divest its stake in Maxim’s Caterers, leaving Hong Kong Caterers as its sole shareholder. Orange News reports that Hong Kong Caterers is owned by the Wu family.

Through Maxim’s, Hong Kong Caterers will continue to operate and expand a portfolio of more than 1,000 restaurants and bakery outlets across markets including mainland China, Hong Kong, Macao, Thailand, Vietnam, Singapore, Malaysia and Cambodia. This is a separate business portfolio from Coffee Concepts’ coffee shop network, and the two should be distinguished when reviewing the transaction.

ET Net also reports that DFI will receive approximately US$340 million in cash consideration. This payment forms part of the overall restructuring; it should not be mistaken for a price paid by DFI to acquire the Starbucks business.

Day-to-day operations unchanged, with collaboration continuing

Both parties say the day-to-day operations of the Starbucks franchise business and Maxim’s Caterers will remain unchanged after completion. Separating ownership does not mean that all shared support arrangements will end.

Hong Kong Caterers, DFI Retail Group and Jardine Matheson will maintain strategic partnerships in areas including procurement, supply chain, property, digital services and the yuu rewards programme. These arrangements allow each party to lead its respective businesses while retaining areas of collaboration.

However, existing reports do not set out details for individual outlets, supplier contracts or rewards programme terms. For franchise-sector participants and business partners, “day-to-day operations will remain unchanged” is the announced overall position, not a basis for assuming what will happen to every contract or service.

Completion expected by the end of the first quarter of 2027

According to Infocast and ET Net, the transaction remains subject to customary closing conditions and is expected to complete by the end of the first quarter of 2027. It should therefore be understood as an agreed restructuring awaiting completion, rather than a completed handover.

The announcement concerns ownership and management of an existing franchise business. The reports do not announce Starbucks franchise opportunities for individual investors in Hong Kong, nor do they provide franchise fees, eligibility criteria or investment figures for a single outlet. A transfer of a brand’s franchise operations is not the same as an open invitation to prospective franchisees.

Practical tip: Anyone involved in or considering Hong Kong’s franchise market should watch for the completion announcement. If you do business with the operations concerned, check the contracting entity, payment settlement and service arrangements with your existing contact rather than making operational decisions solely on the basis of the ownership news.