Insiders say that Luckin Coffee in China is considering bidding for Nestle's Blue Bottle Coffee to enhance its brand image and expand into the high-end coffee market.

Bloomberg, citing informed sources, reported that Luckin Coffee, China's largest coffee chain brand, and its brand investor, Dazheng Capital, are also evaluating other acquisition targets, including the operator of% Arabica coffee stores in China. Investors related to telecom operators include private equity firm PAG.

Insiders have revealed that Luckin Coffee and Dazheng Capital have also considered acquiring Costa Coffee, a chain coffee brand under Coca Cola, but the possibility of such a transaction advancing is unlikely.

Luckin Coffee's American Depositary Receipts fell 7.3% on Tuesday (December 16), marking the largest daily decline since April. Since the beginning of this year, Luckin Coffee's American Depositary Receipts have risen by 25%, and the company's market value has reached 9 billion US dollars (11.622 billion Singapore dollars).

Insiders said that the relevant discussions are still in the early stages and may not ultimately reach an acquisition agreement.

Luckin Coffee was founded in 2017 and now has thousands of stores, specializing in affordable coffee prices. Luckin Coffee's growth momentum is strong, with more stores in China than Starbucks.

Blue Bottle Coffee was founded in California, USA in 2002. 15 years later, Nestle invested in the company and spent approximately $425 million to acquire 68% of its shares. In addition to the United States, Blue Bottle Coffee also has stores in Chinese Mainland, Hong Kong, Japan, Singapore and South Korea.

Insiders say that Luckin Coffee in China is considering bidding for Nestle's Blue Bottle Coffee to enhance its brand image and expand into the high-end coffee market.

Bloomberg, citing informed sources, reported that Luckin Coffee, China's largest coffee chain brand, and its brand investor, Dazheng Capital, are also evaluating other acquisition targets, including the operator of% Arabica coffee stores in China. Investors related to telecom operators include private equity firm PAG.

Insiders have revealed that Luckin Coffee and Dazheng Capital have also considered acquiring Costa Coffee, a chain coffee brand under Coca Cola, but the possibility of such a transaction advancing is unlikely.

Luckin Coffee's American Depositary Receipts fell 7.3% on Tuesday (December 16), marking the largest daily decline since April. Since the beginning of this year, Luckin Coffee's American Depositary Receipts have risen by 25%, and the company's market value has reached 9 billion US dollars (11.622 billion Singapore dollars).

Insiders said that the relevant discussions are still in the early stages and may not ultimately reach an acquisition agreement.

Luckin Coffee was founded in 2017 and now has thousands of stores, specializing in affordable coffee prices. Luckin Coffee's growth momentum is strong, with more stores in China than Starbucks.

Blue Bottle Coffee was founded in California, USA in 2002. 15 years later, Nestle invested in the company and spent approximately $425 million to acquire 68% of its shares. In addition to the United States, Blue Bottle Coffee also has stores in Chinese Mainland, Hong Kong, Japan, Singapore and South Korea.