Affinity to buy Burger King's Japan franchise rights from Lotte Group
The agreement will further strengthen its presence in the Asia-Pacific region.
Burger King AsiaPac Pte. Ltd. and Affinity Equity Partners have announced the commencement of a master franchise agreement to develop and strengthen the presence of the brand in Japan. Affinity, one of the largest private equity firms in the Asia Pacific region, has established BK Japan Holdings Co., Ltd. to execute this new agreement.
Burger King's president Jose Cil said, "We are excited to announce this agreement to accelerate the pace of growth for the BURGER KING brand in Japan, which is the third-largest economy in the world and represents tremendous opportunities for us."
"The Affinity team already has experience developing the BURGER KING brand in Korea, and we’re optimistic that they will replicate their success in Japan to grow the brand," he added.
The new agreement will further expand the footprint of the Burger King in Japan, and strengthen its presence in the Asia-Pacific region. The country’s existing 98 restaurants will continue to be operated by the current franchisee.
No financial terms were disclosed.
