King Coffee founder eyes acquisition of Starbucks locations in the US

Le Hoang Diep Thao, the founder of King Coffee, has announced that her company is in negotiations to acquire several Starbucks stores in the United States. If the deal is finalized, it would represent a significant expansion for the Vietnamese coffee brand in a highly competitive global market.

Specific details regarding the number of stores, locations, transaction value, and the expected completion date have not been disclosed. Starbucks has not yet confirmed the negotiations. This news follows reports that Starbucks has been closing approximately 250 locations across the US and Canada as part of a strategic effort to improve operational efficiency.

King Coffee previously opened its first US location in Anaheim, California, in 2021 with an ambition to develop 100 stores through franchising. However, that specific location was recently reported to have ceased operations. Meanwhile, Thao continues to pursue international partnerships, recently meeting with ambassadors from Egypt and Saudi Arabia to discuss coffee industry cooperation.