Feb. 7, 2012 (China Knowledge) - Starbucks Corp, a U.S.-based international coffee chain operator, yesterday signed an agreement with Yunnan-based
Ai Ni Group, coffee growing and processing firm, to launch a joint venture in the province, a major coffee-growing region in China, sources reported.
Starbucks will hold a 51% stake in the joint venture and take charge of its operations. Ai Ni Group will own 49% of the joint venture.
The joint venture will purchase and export coffee beans and also set up a coffee processing plant in Yunnan
The joint venture's production capacity is about 27,000 metric tons in the initial stage and is expected to increase to 100,000 metric tons in five years time.
The establishment of the joint venture is expected to help Starbucks stabilize its raw material supply and meet a growing demand for high-quality coffee from Chinese consumers.