Burger King Unveils New Joint Venture in China

Discussion in 'China' started by Zebra, Jun 16, 2012.

  1. Zebra

    Zebra Senior Member Senior Member

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    June 15, 2012

    By NATHALIE TADENA

    Burger King Worldwide Holdings Inc. has formed a joint venture to open 1,000 restaurants in China over the next five to seven years, as the fast-food chain looks to gain ground in key growth markets.

    Burger King said it has entered into an agreement with members of the Kurdoglu family, a longtime Burger King master franchisee, and private-equity firm Cartesian Capital Group for the joint venture. The deal represents the company's largest multiunit development agreement and will make the Kurdoglu family the system's largest franchisee globally, Burger King said.

    Under the agreement, the new venture has exclusive rights to expand the Burger King brand in China, where there are currently 63 Burger King restaurants.

    Financial terms weren't disclosed.

    Last week, Burger King unveiled a joint venture with its largest franchisee in Russia, Burger Rus, and the Russian investment bank VTB Capital. The company also announced a similar venture in Brazil last July.

    Burger King was taken private in 2010 by the New York-based private-equity firm 3G Capital Management through a deal valued at $4 billion. The company in April reached a $1.4 billion cash deal with U.K. investment vehicle Justice Holdings Ltd. JUSH.LN -1.55% that would bring the fast-food chain back to the public market. 3G Capital will remain Burger King's principal shareholder with a 71% stake in the public company.

    Last month, Burger King reported it swung to a first-quarter profit as revenue jumped 3.2% with the help of strong North America sales.

    Burger King Unveils New Joint Venture in China - WSJ.com
     
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  3. Zebra

    Zebra Senior Member Senior Member

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  4. RedDragon

    RedDragon Regular Member

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    I really can't find any different taste between burger King and McDonald
     
  5. Oblaks

    Oblaks Regular Member

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    Burger king hamburgers are grilled. mc Donald's hamburgers are fried. In China, mc Donald's has grilled chicken burger on the menu which is really yummy. Although burger king has superior beef burgers over Mc Donald's. So something for your taste buds to watch out for.
     
  6. Ray

    Ray The Chairman Defence Professionals Moderator

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    Another capitalist devilish scheme to make Chinese fat and slothy and incapable of hard work.

    Another version of the Opium War! ;)
     
    Oblaks and satish007 like this.
  7. satish007

    satish007 Senior Member Senior Member

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    Bossed will be Chinese and American, so Burger King will be cheaper than MC.
    Burger King might use hogwash oil and will keep reusing.
     

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