Burger King China franchisee exploring sale: report
Deliberations are at the early stage.
The biggest franchisee of Burger King is weighing a sale of its China business in a deal that would value it at US$1.2 billion.
Citing people with knowledge of the matter, Bloomberg reported that TAB Food Investments (TFI), also the largest global franchisee of Restaurant Brands International Inc. (RBI), is working with an adviser to gauge interest for its 50% stake in Burger King’s Chinese operations from potential suitors, including private equity firms.
A sale may start as soon as next month, the people said, but deliberations remain at an early stage. It is said that TFI could decide to keep the business or possibly revive its IPO plans.
The company is also a franchisee of Popeyes in China, another RBI brand that opened its first restaurant in Shanghai this year as part of a plan to open more than 1,500 fried chicken restaurants in the country over the next decade.
Read the full report here.