"Centurium Capital Partners is in advanced talks to acquire Nestle SA's Blue Bottle Coffee, according to people familiar with the situation. The buyout firm, which helped turn around Chinese market leader Luckin Coffee Inc., is putting the final touches on a deal for the coffee roaster and retailer."
"Founded in Oakland, California in 2002, Blue Bottle has outlets in the US, China, Hong Kong, Japan, Singapore and South Korea. Nestle invested in 2017, paying about $425 million for a 68% stake."
"Luckin was established nine years ago and has expanded rapidly despite an accounting scandal and US delisting in 2020 to become the biggest coffee chain in China with about 31,000 stores. Luckin's American depositary receipts have risen about 16% over the past 12 months, giving the company a market value of about $9.5 billion."
Centurium Capital Partners is negotiating to acquire Nestle SA's Blue Bottle Coffee in an advanced deal stage. The buyout firm, known for revitalizing Luckin Coffee into China's market leader, is finalizing terms for the coffee roaster and retailer. Blue Bottle, founded in Oakland in 2002, operates across the US and Asia-Pacific regions. Nestle acquired a 68% stake in 2017 for approximately $425 million. Centurium and Luckin have evaluated multiple coffee-chain acquisition targets including Costa Coffee and % Arabica stores in China. Luckin Coffee has grown to approximately 31,000 stores despite past challenges, achieving a market value of $9.5 billion with recent stock gains.
Read at www.mercurynews.com
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