Goubuli intends to buy US coffee chain soon

Source:Xinhua Published: 2014-1-8 23:33:01


Goubuli's main branch in Tianjin Photo: IC


Goubuli, a renowned Chinese food chain known for its steamed stuffed buns, announced on Wednesday it expects to buy a well-known American coffee chain in the first half of this year.

Goubuli, also known as Go Believe, did not reveal the name of the American coffee chain.

"The negotiation has entered the final stage," said Zhang Yansen, Goubuli board chairman. "It's not convenient for us to disclose the details."

But Zhang did say that the coffee chain currently runs hundreds of shops in more than 40 countries and regions in Europe, the US and Southeast Asia.

Goubuli can use the coffee chain's business network to promote high-quality Chinese cuisine to overseas markets, according to Zhang.

Although Chinese food is popular worldwide, it is generally considered low-end fare, he said.

"Goubuli is one of the most famous and oldest Chinese food brands," he noted. "The status of Chinese food overseas makes me embarrassed."

Goubuli, established in 1858 and headquartered in North China's Tianjin, has gained momentum in its expansion overseas in recent years.

It forged a partnership with Singapore-based Tee Yih Jia in October 2013 to sell Goubuli products in over 50 cities in the Asia-Pacific market.

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