Burger King makes a comeback in Israel
It wants to open 50 branches over five years.
Burger King has revived its appetite for the Israeli market, as the restaurant chain re-launched in Tel Aviv following a six-year absence.
According to a Israeli business newspaper Globes, Burger King plans to roll out a total of 10 branches in Israel within 2016, with an initial investment of about US$12m.
In the long-term, the chain aims to open a total of 50 branches in the country over the next five years. There are currently no plans for expanding by franchising, as all 50 branches will be owned by Burger King Israel.
Burger King Israel is backed by Pierre Besnainou, who owns 75% of the Israeli operation, in partnership with Steve Benchimol. A third party holds the remaining 25% of the shares.