Burger King strikes deal to expand retail footprint in France
Burger King has entered into a joint venture with Groupe Olivier Bertrand, a multi-brand restaurant…Burger King has entered into a joint venture with Groupe Olivier Bertrand, a multi-brand restaurant company in France, under which Groupe Olivier Bertrand will act as the restaurant brand’s long-term master franchisee across the country.
French asset management firm Naxicap Partners will also own a minority stake in the JV.
The joint venture's initial plans include the establishment of Burger King restaurants across the country, with the creation of over 1,200 new job opportunities in the initial year.
Burger King Worldwide Europe, Middle East and Africa president José Cil said that France is one of the largest quick service restaurant markets in Europe and the company has been waiting to find the perfect partner.
"Groupe Olivier Bertrand's operating capabilities and significant experience within the food and beverage space, along with Naxicap's expertise in capital growth markets, make them the ideal partners for our expansion in France," Cil added.
This development deal is part of the Burger King's aggressive international growth strategy which includes accelerating net restaurant growth and continuing to grow same store sales.
At the end of fiscal year 2013, Burger King had over 13,000 outlets in 79 countries, out of which 66% are in the US and 99% are privately owned and operated with its new owners moving to an entirely franchised model by the end of 2013.
