美心食品已达成协议，将以3.4亿美元外加其持有的星巴克特许经营业务控制权，从DFI零售集团手中回购股份，据周三发布的交易所文件披露。
Maxim’s Caterers has struck a deal to buy back its shares from DFI Retail Group for US$340 million plus control of its licensed Starbucks business, according to an exchange filing released on Wednesday.
这笔交易将为美心开启新篇章，终结了怡和洋行持有其部分股权长达数十年的历史，怡和洋行拥有DFI零售。
The deal will mark the start of a fresh chapter for Maxim’s, bringing an end to decades of part ownership by the conglomerate Jardine Matheson, which owns DFI Retail.
怡和洋行于1972年收购了美心50%的股份，随后将该股份转让给牛奶公司，即现在的DFI零售。吴家族通过香港饮食集团保留了另外50%的业务股权。
Jardine Matheson bought a 50 per cent interest in Maxim’s in 1972, before transferring the stake to Dairy Farm, now known as DFI Retail. The Wu family retains 50 per cent of the business via the company Hongkong Caterers.
根据交易，DFI零售将接管亚洲地区1100多家星巴克门店的运营，并收到3.4亿美元现金，以交换其持有的美心50%股权。股份将转移给吴家族，后者自1950年代以来一直经营美心。
The deal will see DFI Retail take over operations of more than 1,100 Starbucks outlets across Asia and receive US$340 million in cash in exchange for its 50 per cent equity stake in Maxim’s. The shares will pass to the Wu family, which has run Maxim’s since the 1950s.
DFI零售在周三发布的声明中将此举描述为“重组”，强调香港饮食集团、DFI和怡和洋行将继续在采购、供应链、物业和数字化等领域合作。
In a statement released on Wednesday, DFI Retail described the move as a “reorganisation”, stressing that Hongkong Caterers, DFI and Jardine Matheson would continue to partner with each other across the procurement, supply chain, property and digital segments.
“星巴克特许经营业务移交DFI标志着我们从投资组合型公司向专注型运营公司战略转型的最后一个里程碑，这完全符合我们的使命——以日常美好时刻，可持续地为亚洲服务世世代代，”DFI首席执行官Scott Price在声明中表示。
“The transition of the Starbucks licensed business to DFI marks the final milestone in our strategic pivot from a portfolio to a focused operating company and sits squarely within our purpose – to sustainably serve Asia for generations with everyday moments,” said Scott Price, CEO of DFI, in the statement.
该星巴克特许经营业务在包括香港、新加坡、泰国、柬埔寨和越南在内的七个亚洲市场运营着1100多家咖啡店。
The licensed Starbucks business operates more than 1,100 coffee houses across seven Asian markets, including Hong Kong, Singapore, Thailand, Cambodia and Vietnam.
DFI表示，预计该业务将“即刻”产生收入，提升其核心零售业务的经营利润率，并与其他业务产生协同效应。
DFI said it expected the business to generate revenue “immediately”, boost the operating margin of its core retail business, and create synergies with its other ventures.
去年，星巴克业务产生了约7.5亿美元的收入，基础经营利润率为7%。根据DFI的文件，预计到2028财年全年收入将达到9亿美元。
Last year, the Starbucks business generated income of about US$750 million with an underlying operating margin of 7 per cent. Revenue is projected to reach US$900 million on a full-year basis in 2028, according to DFI’s filing.
DFI 还在亚洲经营多个其他知名零售连锁品牌，包括惠康、万宁和 7-Eleven。
DFI also operates a number of other well-known retail chains in Asia, including Wellcome, Mannings and 7-Eleven.
美心集团由吴锦标和吴锦棠兄弟于 1956 年创立，在香港、中国内地、东南亚及其他市场经营超过 2,000 家餐饮网点。
Maxim’s, founded in 1956 by brothers James Wu and ST Wu, operates more than 2,000 food and drink outlets across Hong Kong, mainland China, Southeast Asia and other markets.
香港饮食集团及美心食品董事长兼董事总经理吴家驹表示，公司多元化的业务组合使其处于有利地位，可把握未来的增长机遇。
Michael Wu, chairman and managing director of Hongkong Caterers and Maxim’s Caterers, said the company’s diversified business portfolio put it in a strong position to capture growth opportunities in the future.
怡和洋行执行主席凯思齐表示：“我们很荣幸能与吴家族及香港饮食集团合作如此长久，期待继续携手合作，并通过 DFI 零售集团支持星巴克特许经营业务的增长。”
“We have been fortunate to have the Wu family and Hongkong Caterers as partners over such a long period, and we look forward to continuing to work alongside them, as well as supporting the growth of Starbucks licensed business through DFI Retail Group,” said Ben Keswick, executive chairman of Jardine Matheson.
此次重组须符合惯例交割条件，预计将于 2027 年第一季度末完成。
The reorganisation is subject to customary closing conditions and is expected to be completed by the end of the first quarter of 2027.
DFI 表示，目标是将 2027 年的股息派发比例提高至 80%，同时维持 2028 年核心利润最高达 3.5 亿美元的盈利指引。
DFI said it aimed to lift its dividend payout ratio to 80 per cent in 2027, while maintaining the 2028 underlying profit guidance of up to US$350 million.