On December 26, reports emerged suggesting that Luckin Coffee Inc. is considering the acquisition of Blue Bottle Coffee, which is owned by Nestlé. Additionally, Luckin Coffee and its investor, Centurium Capital, are reportedly evaluating other potential acquisition targets, including the China business operator of % Arabica, which is backed by the private equity firm PAG. When contacted by Sina Finance for comment on these rumors, Luckin Coffee declined to provide a statement.
In 2017, the Nestlé Group acquired approximately 68% of Blue Bottle Coffee's equity for about $500 million. Blue Bottle Coffee entered the mainland China market in 2022 and currently operates a modest footprint of only 15 stores across Shanghai, Shenzhen, and Hangzhou. Furthermore, there are reports indicating that the company plans to open a store in Beijing by 2026.
Comments