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Restaurant Brands International has set up a joint venture with CPE and raised 320 million euros to open nearly 3,000 Burger King locations in China over the next ten years.
Expansion plans until 2035
CPE specialises in scaling up consumer brands in China. Their expertise will be needed to expand Burger King’s Chinese network from 1,250 locations today to more than 4,000 in ten years, Inside Retail reports.
The transaction is expected to be completed in the first quarter of next year. RBI will then own one-sixth of the joint venture, with CPE owning the rest. The company will have exclusive rights to develop the brand in the Chinese market for twenty years.
In February, RBI had already paid 150 million euros for the interests in Burger King China that the local franchisee still held.
