Burger King Worldwide sells 91 German restaurants to Yi-Ko Holding
American fast food hamburger chain Burger King Worldwide has completed the sale of its wholly-owned…American fast food hamburger chain Burger King Worldwide has completed the sale of its wholly-owned subsidiary Burger King GmbH and its 91 company-owned restaurants in Germany to Yi-Ko Holding.
Yi-Ko Holding, owned and operated by Ergün Yildiz and Alexander Kolobov, will develop new Burger King restaurants during the next five years and remodel an additional 57 restaurants during the next 18 months.
Burger King Worldwide EMEA president José Cil said, "Germany is our biggest market outside of the U.S. and we believe that this country still offers significant potential for the Burger King brand."
Yi-Ko Holding chief executive officer Ergün Yildiz said that the company is committed to investing heavily in the remodeling of the existing restaurant portfolio and to significantly expand the restaurant network in the coming years.
Burger King Beteiligungs GmbH DACH region vice president & general manager Andreas Bork said, "Together with our more than 160 franchise partners in Germany, we will continue on our path towards becoming the most profitable QSR player."
Founded in 1954, Burger King Worldwide operates more than 13,000 outlets serving more than 11 million guests daily in 88 countries and territories worldwide.