Burger King Worldwide (BKW) has established a new joint venture in China focused on aggressively expanding the Burger King (BK) brand's presence in this market.
BKW has entered into an agreement with members of the Kurdoglu family, a long-time Burger King master franchisee and Cartesian Capital Group, a global private equity firm.
This new joint venture is planning to open 1000 BK restaurants in China over the next five to seven years.
Under the terms of the partnership, the new venture has signed a long-term master franchise and development agreement with BKW and has obtained the exclusive rights to expand the Burger King brand in China, where there are currently 63 Burger King restaurants.
Earlier this month, BKW announced a joint venture in Russia to rapidly expand the brand's presence in the market with several hundred BK restaurants expected to open in the next several years.
Last July, BKW also announced a similar venture in Brazil to add several hundred restaurants in South America's fastest-growing economy.
- Soho Coffee moves into leisure centre market
- Mocon creates four business units to support global footprint
- Food manufacturers welcome first stage funding success