A familiar storefront tells you whose coffee brand you are buying; it leaves the local ownership story less obvious. As of October 1, 2026, DFI’s proposed takeover of Maxim’s Starbucks interests is awaiting completion.
Who runs the café today?
For a customer in Hong Kong, the local company to know is Coffee Concepts (Hong Kong) Limited. The published Hong Kong and Macau Rewards terms identify it and Coffee Concepts (Macau) Limited as Starbucks Corporation’s licensees. “Starbucks” on a local service document can therefore refer to a local operating company.
The licensed portfolio currently sits with Maxim’s, in which DFI indirectly holds 50%. Its September 30 regulatory announcement, RNS 9763W proposes exchanging that wider restaurant-company stake for Maxim’s Starbucks business interests.
Who gets the cafés—and the cash?
Maxim’s would repurchase DFI’s Maxim’s shares, transferring its Starbucks interests and about US$340 million cash to DFI at completion, subject to adjustments. The money goes to DFI.
The covered network exceeds 1,100 coffeehouses across Thailand, Hong Kong, Singapore, Vietnam, Cambodia, Macau and Laos.
A familiar brand can have a different local operator
Starbucks explains the licensed model in its 2025 annual report’s “Licensed Stores” section: it licenses its trademarks, while local licensees bear operating costs and capital investment. Starbucks supplies branded products and receives royalties and licence fees; licensee staff follow its operating procedures and receive training.
That arrangement helps explain the familiar cup and storefront without requiring every café to belong directly to the US parent. Imagine three separate questions: whose brand is on the door, which company runs the shop, and who owns shares in that company? An answer to one does not automatically answer the other two.
Hong Kong and mainland China: two different deals
A separate change has already taken place on the mainland. On April 2, 2026, Starbucks announced that its Boyu Capital joint venture had closed. Boyu-managed funds took 60% of Starbucks China’s retail operations; Starbucks retained 40% and ownership of its brand and intellectual property. About 8,000 coffeehouses transitioned to a licensed operating model.
The comparison matters because a broad “Starbucks in China” headline can blur distinct businesses. The mainland release describes its own retail venture and continued Starbucks brand ownership. Read each deal with its specific region and companies attached: a Hong Kong café and a mainland café can share branding while belonging to different operating arrangements.
What still has to happen?
DFI targets completion by end-March 2027, subject to third-party consents, antitrust clearance and internal business separation. That timetable remains conditional.
What a visitor can use now
For visitors, the currently published Hong Kong and Macau terms require a locally activated and registered Starbucks Card for that Rewards programme. Purchases outside those territories do not earn Stars under that programme.
A familiar logo therefore does not promise a familiar account. Before relying on your usual American or British app, check the local payment and Rewards conditions. A parent-company announcement does not settle that practical question.
A closing notice will establish whether the ownership change has happened. New local customer terms would establish any payment or Rewards change. For a traveller, those are the updates to distinguish. Neither the corporate announcement nor a familiar cup substitutes for the terms that apply where you are ordering.
