Burger King China growth set as RBI, CPE JV closes

CPE contributed $350m in new capital and now holds about 83% of the JV.

Restaurant Brands International Inc. (RBI) and CPE have finalised their previously announced joint venture (JV) to operate Burger King in China.

As part of the deal, CPE contributed $350m in new capital and now holds about 83% of the joint venture, whilst RBI retains a 17% stake and a seat on the board.

The JV includes a 20-year master development agreement giving Burger King China exclusive rights to grow the brand in the country.

RBI and CPE plan to expand the chain from roughly 1,250 locations currently to over 4,000 by 2035, whilst aiming to maintain steady same-store sales through operational discipline and attention to food quality.