Retail in Asia

In Sectors

Goubuli runs Australian coffee chain

Goubuli, a renowned Chinese restaurant chain known for its steamed stuffed buns, said they sealed a deal with Gloria Jean’s Coffees to operate the Australian brand in China.

Tianjin Senyongtai Food and Beverage Co, a subsidiary wholly owned by the Goubuli Group, will hold an 80 percent stake in "Tianjin Glory", a new joint venture that will operate Gloria Jean’s coffee brand in China under the deal reached on 25 December, Goubuli’s Board Chairman Zhang Yansen said on Wednesday.

The Australian firm will hold the remaining 20 percent, he said.

(Source: Shanghai Daily)