Burger King France to Become Second Largest QSR Chain in France
Burger King France is to acquire the QUICK fast food hamburger chain. Burger King France, the master franchisee of the BURGER KING® brand in France, intends to convert Quick restaurants in France to BURGER KING® restaurants over time.
Burger King France is primarily owned by Groupe Bertrand, a French entrepreneurial family group. Restaurant Brands International, the owner of the BURGER KING® brand, retains a minority stake in Burger King France. As of September 2015, Burger King France operated 26 BURGER KING® restaurants in France. The company was formed in 2013 and is headquartered in Paris, France.
Daniel Schwartz, chief executive of Restaurant Brands International, comments: “The transaction will significantly accelerate our BURGER KING® restaurant growth in France, a key strategic market for the brand. Burger King France, our master franchise joint venture in France, has achieved great success over the past two years, building restaurants with average annual sales of €5 million, one of the highest levels in the world, and expects to have approximately 50 restaurants in the country by year end.”
Josh Kobza, chief financial of RBI, adds: “This transaction represents a significant step forward for Burger King France, which will have more than 500 restaurants and €1 billion of system sales following the transaction. Following the conversion, BURGER KING® is expected to be the number two QSR brand in France, and France will become one of the largest markets for BURGER KING® globally. The transaction highlights the strength of our partnership with Groupe Bertrand and the master franchise joint venture model to accelerate the pace of our growth around the world.”
Subject to regulatory, shareholder and bondholder approvals, the proposed transaction is estimated to close by the end of 2015.
