Jon Quast

This coffee chain has been struggling in recent years trying to get back to Starbucks with new CEO Brian Niccol, but it's finally making a move in China.

It's been trying to figure out what to do with its business there.

It just announced that it is

entering a joint venture with Boya Capital.

It's going to sell up to 60% of its China business to that private equity firm to continue on with business there.

Emily, I want to know, is this the right move and can it help investors?

Yeah, definitely.

It's hard to be overly excited about a turnaround story, right, guys?

But I will say that sometimes the best turnaround stories are the ones that have the brands, the brand recognition, the consumer mindspace.

And I would say that Starbucks definitely has that.

Still a ways to go in the North America market, to be sure, but certainly not a lost cause either.

It's not been great for shareholders over the past several years, but hopefully that turns around in the near future.

And maybe this joint venture in China will help it focus on North America market.

One final topic we have here for the restaurant space.

This one surprised me.

So private equity firm Triartisan Capital Advisors has agreed to buy dining chain Denny's for a deal with an enterprise value of $620 million.

So now just for some perspective, Denny's

Flat, same store sales over the recent quarters.

Net closures when it comes to restaurants and a very high net debt position.

So that's why this was a surprising one for me.