Starbucks grabs full control of mainland stores in $1.3 billion deal

Starbucks Corp announced on Thursday it is taking full control of its mainland outlets after a buyout deal to acquire the remaining 50 percent share it did not own from its long time joint venture partners.

The Seattle-based coffee shop chain said it bought the half share from Uni-President Enterprises Corp and President Chain Store Corp for about $1.3 billion in cash.

The coffee behemoth said the transaction was its biggest single acquisition.