Alshaya’s Starbucks Stake Sale: Apollo and PIF Interested

Alshaya Group is reportedly exploring the sale of a minority stake in its Starbucks franchise business in the Middle East. Potential buyers include Apollo Global Management and Saudi Arabia’s Public Investment Fund. This presents an opportunity for investors in the growing Middle Eastern coffee market. Despite being known for tech investments, Apollo is expanding into new sectors. The Public Investment Fund is showing increasing interest in the coffee industry. Alshaya Group has been the successful Starbucks franchise partner in the Middle East and North Africa for over 20 years. The company has ambitious plans to open 250 Starbucks stores annually and reach a total of 3,000 outlets by 2028. With a diversified portfolio, Alshaya Group is a major player in the Middle Eastern retail market.