China's Luckin Coffee, through its investment firm Centurium Capital, has agreed to purchase all global stores of the American specialty coffee brand Blue Bottle from Nestle for less than $400 million. The deal, reported on March 4 by Chinese media outlet Jiemian News, allows Nestle to retain ownership of Blue Bottle's consumer goods business. This acquisition highlights the growing influence of Chinese coffee chains in the global market.
Centurium Capital, the primary investor and operator of Luckin Coffee, reached an agreement to acquire Blue Bottle Coffee's global stores from Nestle. The transaction value is reported to be under 400 million dollars, or about 585.4 billion won. Following the deal, Nestle will maintain control over Blue Bottle's consumer products, such as coffee beans, instant coffee, and ready-to-drink beverages. Nestle originally invested around 500 million dollars in 2017 to secure approximately 68% of Blue Bottle's shares.
Luckin Coffee, often dubbed "China's Starbucks," was founded in Beijing in October 2017. It saw rapid expansion and listed on NASDAQ in 2019 but faced delisting in 2020 after revelations of fabricated sales. The company restructured its management and ownership, eventually surpassing Starbucks in China by 2023. Centurium Capital has been involved since Luckin Coffee's early stages and led its recovery efforts. Currently, Centurium Capital and its chairman Li Hui hold a 23.28% stake in Luckin Coffee, controlling over 53% of voting rights. Li Hui became chairman in May 2024.
Blue Bottle, a premium brand associated with the third wave of coffee, entered the Chinese market in 2022 but has underperformed, operating just 15 stores in Shanghai, Shenzhen, and Hangzhou. Globally, as of August 2025, it runs about 140 stores across six countries and regions.
Jiemian News described the acquisition as a symbolic merger of a global premium brand and a scale-focused Chinese player, noting that "this transaction could lead to changes in Blue Bottle's strategies in both China and global markets."
In the fourth quarter of the previous year, Luckin Coffee reported sales of 12.8 billion yuan, a 33% year-on-year increase, with its store count rising 39% to 31,048 locations, including 30,888 in China and 160 overseas.
