Yum China, a licensee of Yum! Brands in mainland China, and Lavazza, the family-owned Italian coffee company, completed the formation of the joint venture in China. Financial terms were not disclosed. "China is an important market with huge untapped potential for coffee consumption. We have been searching for the right opportunities to establish Lavazza in China and Asia, and this partnership is an important first step," Antonio Baravalle, Lavazza CEO.