Investing.com -- Alshaya Group, a Kuwait-based conglomerate, has paused discussions regarding the sale of a stake in its Starbucks Corp (NASDAQ: SBUX ). franchise. The franchise spans across the Middle East, North Africa, and central Asia, according to the company's Chief Executive Officer, John Hadden.
Hadden stated that the company's current focus is solely on serving its consumers every day. He made these remarks during an interview at The Retail Summit 2025 held in Riyadh. The CEO also noted that Alshaya Group has started to notice an increase in customer activity since late 2024, following a year that was challenged by geopolitical tensions.
Previously, Alshaya Group had been in talks with Saudi Arabia's sovereign wealth fund over the potential sale of a minority stake in the Starbucks franchise. This information was reported by Bloomberg. Additionally, Apollo Global Management (NYSE: APO ), an American private equity firm, was mentioned last year as a potential contender for a portion of the business.
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