GouBuLi's purchase of foreign coffee is expected to be announced at the end of next month.

Earlier this year, news spread that Goubuli was in talks to buy a US coffee giant, but now months have passed without any follow-up news. "This merger has been ongoing, mainly because of the complexity of overseas merger procedures." Zhang Yansen said that official news is expected to be announced by the end of next month. If the transaction can be completed, it will be the first overseas acquisition of China's catering industry after Chinese brands such as Aunt Dumpling and South Beauty have been acquired by foreign investors.

Zhang Yansen did not disclose the funds for overseas mergers and acquisitions, but it is understood that Goubuli tried an IPO(initial public offering) in 2012 and is still waiting in line. Goubuli Restaurant's sales last year were about 1 billion yuan. Based on this scale, Goubuli's overseas M & A may stage another "snake swallowing elephant".