China Resources takes a caffeine injection

China Resources Enterprise pays $42 million to buy a majority stake in Pacific Coffee from Chevalier Pacific, earning Chevalier a healthy return on its five-year investment.

Rupert Walker

June 30, 2010

China Resources Enterprise (CRE) has agreed to buy an 80% stake in Pacific Coffee from Hong Kong conglomerate Chevalier Pacific, the two companies said in a joint statement yesterday. Chevalier will retain a 20% holding in one of Hong Kong's favourite coffeehouse chains, but has a three-year option to sell its minority interest to CRE.

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