Burger King Worldwide Holdings (BKW) has established a new joint venture in Russia focused on aggressively expanding the Burger King brand presence in this high-growth emerging market.
Under the new partnership, BKW, Burger Rus, the largest Burger King franchisee in Russia, and VTB Capital, a Russian investment bank, are committed to opening several hundred Burger King restaurants over the next few years.
José Cil, president, EMEA, BKW, said: "We believe there is tremendous opportunity to rapidly increase our market share in Russia's fast-growing and under-penetrated quick-service restaurant (QSR) sector.
"Today's announcement is a great example of our company's strategy to accelerate international expansion by creating master franchisee agreements with strong local partners in high-growth markets."
Burger Rus already has a strong presence in Russia, having opened 54 Burger King restaurants in the country in the last 30 months.
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