Yum China JV Plans Lavazza Store Expansion In China

by Shivani Kumaresan, Benzinga Staff Writer

September 23, 2021 10:09 AM | 1 min read |

Yum China Holdings Inc YUMC and Luigi Lavazza S.p.A. (Lavazza) have announced plans to accelerate the expansion of the store network of Lavazza cafés in China through the existing joint venture.
The alliance is aiming to open 1,000 stores by 2025. The parties will inject $200 million initially into the joint venture to fund its future growth.
The joint venture is expected to be Lavazza's exclusive distributor in mainland China to introduce more products from Lavazza's portfolio.
The joint venture, formed in early 2020, is 65% owned by Yum China and 35% by Lavazza.
Price Action: YUMC shares are trading higher by 2.90% at $56 on the last check Thursday.

Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.