Steamed buns producer charts plan to grow Australian coffee house business in China

Goubuli Group, which owns a chain of steamed stuffed bun restaurants, said on Wednesday that it has inked a joint venture agreement with Australia's Retail Food Group Ltd to operate the latter's coffee house brands, Gloria Jean's Coffees and It's a Grind, in China.

Tianjin Senyongtai Food and Beverage Co Ltd, a wholly owned subsidiary of Goubuli, will hold an 80 percent stake in the joint venture and Retail Food Group the balance.