Burger King Worldwide announced the sale of 41 company-owned Burger King restaurants in Singapore to Rancak Selera Sdn Bhd (Rancak Selera), part of Ekuiti Nasional Berhad’s (Ekuinas) portfolio of companies and the current Burger King franchisee in Malaysia. As part of the transaction, BKW and Rancak Selera have entered into Master Franchise and Development Agreements to further develop the Burger King brand in both Malaysia and Singapore over the next 20 years.
Under the transaction, Rancak Selera has acquired a 100 percent stake in Burger King Singapore Pte Ltd (BK Singapore). Additionally, Rancak Selera will commit substantial capital to help expand the Burger King brand in Singapore and Malaysia. The Burger King brand has quickly become one of the leading quick-service restaurant players in Singapore, known for its signature flame-broiled, great-tasting food. Since opening its first Burger King restaurant in Malaysia in 1997, Rancak Selera has grown the brand’s presence in the country to 32 outlets.
Elias Diaz-Sese, president, Burger King Asia Pacific, stated, “Over the last year, Rancak Selera has proven to be a strong operator with a passion for delivering great-tasting, high-quality food. We are pleased with this new phase in our relationship and believe that they have the capacity to aggressively expand the Burger King brand presence in these two key markets.”
Commenting on this momentous occasion, Dato’ Abdul Rahman Ahmad, chief executive officer, Ekuiti Nasional Berhad, and director Rancak Selera Sdn Bhd says, “With the size of Singapore’s F&B market currently at SGD9.01 billion (RM22.6 billion) and growing, comparable to the whole of Malaysia, we believe that this is a great platform for our company’s venture into the fast food business. We are very honored that BKW has agreed to accord us the status of Master Franchisee, which will enable us to serve our customers in Malaysia and Singapore for the next 20 years.”
Burgers, News, Pizza