Guobuli, also known as Go Believe, China's time-honored brand of steamed stuffed buns, announced Wednesday that it will acquire an American coffee chain in the first half of 2014.
Go Believe didn't not disclose the name of the American coffee chain, but detailed that the coffee chain runs hundreds of shops in more than 40 countries. Go Believe will take its new partner’s business advantage to promote high-end Chinese catering industry.
"Although Chinese food is popular overseas, it is considered low-end consumption," said Zhang Yansen, chairman of Go Believe. "It urged me to promote the status of Chinese catering abroad."
Established in 1858 and headquartered in the northern port city of Tianjin, Go Believe has not only expanded in local market, but also sought to operate abroad in recent years.