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CaliBurger announced that it has executed a Master Franchise Agreement with IP Ventures (“IPV”), a Manila-based private equity group.
Under the terms of the agreement, a joint-venture subsidiary of IPV will have exclusive rights to open CaliBurger restaurants in the Philippines. The joint venture is in partnership with Raj Sadhwani, one of the founders of Distillery, DRAFT, Opus, and Beso establishments.
The first restaurant is expected to open in fall 2013.
"The Philippines is posed for the entry of a high-end, premium, and freshly made burger chain," says Enrique Gonzalez, partner at IPV. "We will launch CaliBurger in premium and iconic tourist destinations such as Boracay. CaliBurger will provide to diners the California lifestyle and dining experience."
Rick Demarco, chief operating officer at CaliBurger, says, "We are confident that we are working with the very best partner to bring CaliBurger to the Philippines. The IPV team has brought some of the largest international brands to the Philippines and currently operates over 200 F&B units.”
John Miller, chairman of CaliBurger, adds, "In light of the deep historical, cultural, and economic ties between the Philippines and California, we expect that our menu, lifestyle brand, and Premium-Cali video and Web content will be well received.”
CaliBurger and IPV will also work together to establish a CaliBurger training facility in Manila for CaliBurger franchisees in other Southeast Asian nations and the Middle East.