DFI Retail sells stake in Maxim’s in return for Starbucks business, US$340m - South China Morning Post

Themis QiPublished: 10:00pm, 30 Sep 2026Maxim’s Caterers has struck a deal to buy back its shares from DFI Retail Group for US$340 million plus control of its licensed Starbucks business, according to an exchange filing released on Wednesday.

The deal will mark the start of a fresh chapter for Maxim’s, bringing an end to decades of part ownership by the conglomerate Jardine Matheson, which owns DFI Retail.

Jardine Matheson bought a 50 per cent interest in Maxim’s in 1972, before transferring the stake to Dairy Farm, now known as DFI Retail. The Wu family retains 50 per cent of the business via the company Hongkong Caterers.

The deal will see DFI Retail take over operations of more than 1,100 Starbucks outlets across Asia and receive US$340 million in cash in exchange for its 50 per cent equity stake in Maxim’s.