Goubuli runs Australian coffee chain
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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.
Questions & Answers
Q.What is the new joint venture called that will operate Gloria Jean's in China?
What is the new joint venture called that will operate Gloria Jean's in China?
The new joint venture that will operate the Gloria Jean's coffee brand in China is called Tianjin Glory. It was formed under the deal reached on 25 December.
Q.Which company from the Goubuli Group is involved in this deal?
Which company from the Goubuli Group is involved in this deal?
Tianjin Senyongtai Food and Beverage Co, a subsidiary wholly owned by the Goubuli Group, is involved. It will hold an 80 percent stake in the new joint venture, Tianjin Glory.
Q.What percentage of the new joint venture will the Australian firm own?
What percentage of the new joint venture will the Australian firm own?
The Australian firm, Gloria Jean's Coffees, will hold a 20 percent stake in the new joint venture, Tianjin Glory. Goubuli's subsidiary holds the remaining 80 percent.
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