Centurium Capital, Luckin Backer Buys Blue Bottle Stores from Nestlé for $400M

Centurium Capital, the private equity firm that controls Luckin Coffee, has agreed to acquire Blue Bottle Coffee’s global store operations from Nestlé for around $400 million, a person familiar with the matter told Nikkei Asia. RestaurantBusiness and other outlets have cited the figure as $400 million while DesignRush and AX reported the price as under $400 million.

Under the deal’s reported terms, Nestlé will retain Blue Bottle’s coffee machine and capsule businesses and its packaged beans and ready-to-drink lines, while the buyer receives the brand’s worldwide stores, local teams and retail infrastructure. DesignRush put it bluntly: “Under this deal's terms, Nestlé will retain Blue Bottle's coffee machine and capsule businesses while selling the global store operations.”

Sources vary on how many shops change hands. DesignRush reported Blue Bottle had 140 stores globally at the end of 2025, including 31 in Asia and fewer than 20 in China. A LinkedIn analysis cited 78 American locations, and RestaurantBusiness described Blue Bottle as having “more than 100 locations, mostly in the U.S. and China.” Those discrepancies matter for integration planning and rent exposure as Centurium takes on leased retail footprints and local staff.

Centurium’s purchase gives Luckin’s backer a U.S.-rooted premium footprint to pair with Luckin’s scale in China. DesignRush reported Luckin ended 2025 with 31,048 stores and 49.3 billion yuan in revenue, while a LinkedIn analysis used a slightly different count of 30,888 stores and noted nine Luckin outlets in the U.S. LinkedIn argued the move is strategic: “Luckin's global ambitions are now undeniable. 30,888 stores. Nine in the U.S. Blue Bottle's 78 American locations are not a coffee business, they are a U.S. market entry strategy.”

The price tag frames the transaction as a marked downgrade from Nestlé’s original entry into Blue Bottle. DesignRush and AX note Nestlé bought a 68 percent stake in Blue Bottle in 2017 for $425 million, while a LinkedIn analysis reported a conflicting figure of about $500 million. DesignRush summed the optics: “The deal values Blue Bottle at a discount to what Nestlé originally paid.” LinkedIn characterized Nestlé’s move as deliberate: “This is a rational exit for Nestlé, not a catastrophe. The sale marks a deliberate departure from a niche specialty retail chain as Nestlé refocuses its capital allocation priorities on businesses it can scale.”

Reporting on the timeline credits Chinese outlets Jiemian and Wandian with a contract report on March 4, 2026 and Nikkei Asia with a March 5 confirmation. AX quoted Jiemian calling the transaction “a symbolic event in the coffee market.” Bloomberg had earlier reported talks were advanced.

Centurium and Nikkei sources say the two brands will be run separately, but brand integrity and operational overlap are immediate questions. DesignRush cautioned on integration risk: “We think the independence pledge is the right opening move, but it’s also the easiest one to make before integration pressure builds.” Official statements from Nestlé, Centurium, Luckin and Blue Bottle will be needed to confirm the final price, the exact assets transferred, and the regional store counts, but the reported deal already reshapes who owns premium retail presence in the U.S. while Nestlé keeps the scalable FMCG and capsule business.