Luckin Coffee is considering bidding on Blue Bottle Coffee to expand its reach beyond Beijing. Blue Bottle is majority-owned by Nestle, which bought a stake in 2017. Luckin is also eyeing other chains like % Arabica and Costa Coffee, but may not move forward with Costa. Luckin has over 29,000 locations, surpassing Starbucks in China by store count and sales. Starbucks recently agreed to sell most of its Chinese stores to Boyu Capital. Luckin is now opening stores in the US and abroad to continue its growth. Acquiring chains like Blue Bottle and % Arabica could help Luckin expand globally. Starbucks has struggled to compete with Luckin’s lower prices and localized flavors in China, leading to a transformation effort focused on in-person experiences. This shift could create an opportunity for Luckin to gain more market share.

Read more at Yahoo Finance: Blue Bottle Fever? China’s Luckin Coffee Weighs Offer for California Chain