Carlyle Group, EQT, and HongShan Capital are reportedly the last contenders in the high-stakes auction for a significant stake in Starbucks China, according to sources familiar with the matter. The sale, potentially valuing Starbucks China at several billion dollars, has attracted considerable interest from global investment firms eager to capitalize on the robust growth potential of the Chinese coffee market.

The competitive bidding process underscores the enduring appeal of Starbucks China, despite recent economic headwinds and increasing competition from domestic coffee chains. The winner will gain access to a vast and rapidly expanding consumer base, leveraging Starbucks' established brand recognition and extensive network of stores across mainland China.

Industry analysts suggest that the decision by Starbucks to sell a stake in its China operations reflects a strategic shift towards a more asset-light model, allowing the company to focus on its core competencies while tapping into the expertise and capital of private equity partners. For Carlyle, EQT, and HongShan, the investment represents a significant bet on the long-term growth prospects of the Chinese economy and the increasing demand for premium coffee experiences among Chinese consumers.

The deal is expected to have broader implications for the coffee market in China, potentially spurring further investment and consolidation in the sector. The outcome of the bidding process will be closely watched by industry players and investors alike, as it will provide valuable insights into the future direction of Starbucks China and the competitive dynamics of the Chinese coffee market. While no official statements have been released by the involved parties, the final decision is anticipated in the coming weeks.