# Viet Thai International ownership shift in Highlands Coffee > Live situation record from CLSTR: https://clstr.news/situations/viet-thai-international-ownership-shift-in-highlands-coffee > Updated: 2026-09-25T15:19:40.000Z. Sources: 32. Developments: 2. Viet Thai International (VTI) has reached an agreement to acquire an additional 11% stake in SF Vung Tau Joint Stock Company, the entity operating Highlands Coffee in Vietnam. The transaction, valued at approximately 2,300 billion VND (roughly $88 million), shifts the majority ownership from Jollibee Foods Corporation (JFC) to VTI. Following the deal, VTI’s stake increases from 40% to 51%, making it the controlling shareholder and returning majority control to founder David Thai. JFC will reduce its ownership from 60% to 49% while maintaining board representation. Jollibee indicated that the proceeds from the sale will be used for debt reduction, reinvestment, or shareholder distributions as part of a strategy to optimize ownership in mature businesses. The ownership restructuring occurs as Highlands Coffee, which has expanded to over 1,000 locations, prepares for a potential initial public offering (IPO) targeted for the first quarter of 2027. ## Timeline ### 2026-09-25: Viet Thai International regains majority control of Highlands Coffee Viet Thai International has increased its stake in Highlands Coffee to 51% by purchasing an 11% share from Jollibee for $88 million, valuing the chain at $800 million ahead of a planned 2027 IPO. 3 sources. https://clstr.news/cluster/viet-thai-international-regains-majority-control-of-highlands-coffee ### 2026-09-23: Viet Thai International to gain control of Highlands Coffee Viet Thai International is set to become the controlling shareholder of Highlands Coffee by acquiring an 11% stake from Jollibee Foods Corporation in an $88 million deal. 31 sources. https://clstr.news/cluster/vietnam-gold-prices-show-volatility-amid-global-market-shifts --- Cite as: Viet Thai International ownership shift in Highlands Coffee. CLSTR, https://clstr.news/situations/viet-thai-international-ownership-shift-in-highlands-coffee