Starbucks has acquired a company that operates about 60 of its locations in Beijing and Tianjin, tightening control of its franchise as part of all-round expansion in the China market. The Seattle coffee maker bought High Grown Investment Group from private equity firm H&Q Asia Pacific, the Wall Street Journal reported. Starbucks did not say how much it paid for the deal but president of Starbucks Coffee International's Martin Coles said the purchase would bring "operations together in a way that allows us to maximize development of our business in China… for the next 20 or 30 years." This is the second time Starbucks has moved to raise its ownership stakes in China.
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