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4h ago

Restaurant Brands and CPE Launch China JV to Scale Burger King With $350 Million

RBI pivots China operations to a locally led, capital‑backed model to accelerate openings, boosting long‑term royalty visibility.

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FILE - A sign for Burger King, a Restaurant Brands company, is displayed a restaurant in downtown Pittsburgh, Jan. 12, 2022. (AP Photo/Gene J. Puskar, File)
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Overview

  • CPE will inject $350 million of primary capital at closing to support restaurant expansion, marketing, menu innovation, and operations.
  • The venture targets more than 4,000 locations by 2035 and plans to double the current footprint within five years from roughly 1,250 restaurants.
  • Following completion, CPE will hold about 83% ownership, with RBI retaining roughly 17% and a seat on the board.
  • A Burger King China affiliate will enter a 20‑year master development agreement granting exclusive rights to develop the brand nationwide.
  • Closing is expected in the first quarter of 2026 subject to regulatory approvals, after which RBI will begin recognizing royalties in its International segment with a phased step‑up to historical rates.