DFI Retail Group, the Hong Kong-based parent company of Lucky Supermarket, has agreed to take over ownership of the Starbucks licensed business in Cambodia and six other Asian markets, bringing more than 1,100 Starbucks coffeehouses under its direct ownership.
The transaction is part of a corporate reorganisation announced on September 30, 2026, under which DFI Retail Group will acquire Hongkong Caterers Limited's interest in Maxim's Coffee Concepts, the company operating Starbucks' licensed business across seven Asian markets.
The markets covered by the transaction are Cambodia, Laos, Vietnam, Thailand, Singapore, Hong Kong and Macau.
The transaction is expected to be completed by the end of the first quarter of 2027, subject to customary closing conditions.
DFI Retail Group to Take Direct Control of Starbucks Business
Under the planned transaction, Coffee Concepts will become a direct subsidiary of DFI Retail Group.
At the same time, Hongkong Caterers Limited will become the sole shareholder of Maxim's Caterers Limited, which will continue operating its portfolio of more than 1,000 restaurants and bakeries across Asia.
DFI Retail Group said the day-to-day operations of Starbucks outlets will remain unchanged following the transaction.
This means the ownership structure will change, while the existing Starbucks operations are expected to continue under the current operating arrangements.
More Than 1,100 Starbucks Coffeehouses Across Seven Markets
Maxim's Coffee Concepts currently operates more than 1,100 Starbucks coffeehouses across the seven markets.
| Market | Starbucks business under transaction |
|---|---|
| Cambodia | Included |
| Laos | Included |
| Vietnam | Included |
| Thailand | Included |
| Singapore | Included |
| Hong Kong | Included |
| Macau | Included |
| Total | 1,100+ coffeehouses |
The acquisition will therefore give DFI Retail Group direct ownership of a substantial regional Starbucks operating portfolio.
For Cambodia, the transaction places the country's Starbucks business within a wider regional operating structure controlled directly by the parent group of Lucky Supermarket.
DFI Says It Plans to Expand Starbucks Across the Region
DFI Retail Group Group Chief Executive Scott Price described the transaction as the final milestone in the company's strategic shift toward becoming a more focused operating company.
Price said DFI looks forward to expanding the Starbucks footprint across the region.
The statement indicates that Starbucks expansion remains part of DFI's regional strategy following the transaction, although the announcement does not provide specific details on the number of new stores planned for Cambodia or other markets.
Hongkong Caterers to Focus on Restaurants and Bakeries
Hongkong Caterers Limited Chairman Michael Wu said the company remains confident in the future of the coffee business under DFI Retail Group.
The company will instead focus on its core restaurant and bakery operations through Maxim's Caterers Limited.
Maxim's Caterers operates a portfolio of more than 1,000 restaurants and bakeries across Asia, according to the announcement.
The restructuring therefore separates the Starbucks coffee business from the restaurant and bakery portfolio.
What the Transaction Means for Starbucks Cambodia?
For Starbucks customers in Cambodia, the immediate operational impact is expected to be limited because DFI Retail Group has said that day-to-day operations will remain unchanged.
The more significant change is at the ownership and corporate management level.
Cambodia's Starbucks business will become part of a regional Starbucks portfolio directly controlled by DFI Retail Group, which already operates Lucky Supermarket and other retail businesses in Asia.
The transaction could also provide a stronger connection between Starbucks' regional expansion and DFI's broader retail operating strategy.
However, the announcement does not provide specific information about planned Starbucks store openings, investment amounts or changes to pricing and products in Cambodia.
Transaction Expected to Close in Early 2027
The agreement is not yet fully completed.
The transaction remains subject to customary closing conditions and is expected to be completed by the end of Q1 2027.
Until completion, the existing ownership structure remains in place.
Once completed, Coffee Concepts will become a direct subsidiary of DFI Retail Group.
Angkor Times Analysis
The transaction is notable for Cambodia's retail and food-and-beverage sector because it places the country's Starbucks business within a larger regional operating structure controlled by the parent company of Lucky Supermarket.
The most immediate point for consumers is that day-to-day Starbucks operations are expected to remain unchanged.
The longer-term significance will depend on how DFI uses its direct control of the seven-market Starbucks portfolio.
DFI's stated intention to expand the Starbucks footprint across the region could create opportunities for further growth, but the current announcement does not specify whether Cambodia will receive additional stores or investment.
For Cambodia's retail sector, the transaction also highlights the growing importance of regional operating groups that manage international consumer brands alongside established local retail networks.
With more than 1,100 Starbucks coffeehouses across seven Asian markets moving under DFI's direct subsidiary structure, the deal gives the group a larger regional coffee platform while allowing Hongkong Caterers to concentrate on restaurants and bakeries.
Frequently Asked Questions
Who is taking over Starbucks in Cambodia?
DFI Retail Group, the Hong Kong-based parent company of Lucky Supermarket, has agreed to acquire the Starbucks licensed business operated through Maxim's Coffee Concepts in Cambodia and six other Asian markets.
Which countries are included in the transaction?
The transaction covers Cambodia, Laos, Vietnam, Thailand, Singapore, Hong Kong and Macau.
How many Starbucks stores are involved?
Maxim's Coffee Concepts operates more than 1,100 Starbucks coffeehouses across the seven markets.
Will Starbucks outlets in Cambodia change immediately?
According to DFI Retail Group, day-to-day operations will remain unchanged following the transaction.
When will the transaction be completed?
The transaction is expected to close by the end of the first quarter of 2027, subject to customary closing conditions.
What happens to Hongkong Caterers?
Hongkong Caterers Limited will become the sole shareholder of Maxim's Caterers Limited and will continue operating more than 1,000 restaurants and bakeries across Asia.
Does DFI plan to open more Starbucks stores?
DFI Retail Group's chief executive said the company looks forward to expanding the Starbucks footprint across the region. The announcement does not specify how many additional stores are planned for Cambodia.