Seattle-based coffee shop Starbucks Corp. on May 23 said it granted Coffee Concepts exclusive rights to operate its retail business in Thailand.

Coffee Concepts expects the deal, which will enable it to oversee all retail operations and store development for Starbucks in Thailand, to close by the end of May.

Starbucks, which entered Thailand in 1998, operates 372 stores in the market.

Coffee Concepts, a joint venture formed by Hong Kong-based Maxim's Caterers Ltd. and local F&N Retail Connection Co. Ltd., also won the licensing rights for Starbucks Myanmar in 2018.