DFI Retail Group takes sole control of Starbucks Asia franchise as Maxim's splits

The split separates 1,100 Starbucks coffeehouses from 1,000-plus restaurants across Asia.

DFI Retail Group and Hongkong Caterers have agreed to split their joint holdings in Maxim's Caterers, separating the Starbucks-licensed business from the broader restaurant and bakery portfolio in a reorganisation expected to close by the end of the first quarter of 2027.

Under the agreement, DFI will take sole ownership of Coffee Concepts, the Starbucks-licensed business operating more than 1,100 coffeehouses across Thailand, Hong Kong, Macau, Vietnam, Singapore, Cambodia and Laos.

Hongkong Caterers will become the sole shareholder of Maxim's Caterers, retaining a portfolio of more than 1,000 restaurants and bakeries across eight markets including the Chinese mainland, Malaysia and the same Southeast Asian markets.

The two companies said day-to-day operations across both businesses will remain unchanged following the reorganisation. Hongkong Caterers, DFI and Jardine Matheson said they will maintain an ongoing partnership across procurement, supply chain, property, digital and loyalty through the yuu Rewards programme.

The Maxim's brand was founded in 1956 and became a joint venture between Hongkong Caterers and Jardine Matheson in 1972, with Jardines' interests held through DFI for the past 40 years. The combined business has grown to more than 2,000 stores across nine markets.