Restaurant Brands International Inc., the parent company of the Burger King brand, and CPE today announced the completion of their previously announced joint venture, marking an important step forward in Burger King China’s next phase of growth.
Upon closing of the transaction, CPE invested $350 million of new primary capital into the joint venture (“Burger King China” or the “Business”), and now owns approximately 83% of the Business, with RBI retaining a 17% minority interest and a seat on the Board of Directors. The partnership combines Burger King’s globally iconic brand and products with CPE’s deep local market expertise, creating a strong foundation to accelerate growth and enhance the guest experience across China.
A wholly owned affiliate of Burger King China has also entered into a 20-year master development agreement, granting it exclusive rights to develop the Burger King brand in China. Together, CPE and RBI aim to expand Burger King’s restaurant network in China from approximately 1,250 restaurants today to more than 4,000 by 2035, while delivering sustainable same-store sales growth through disciplined execution and continued focus on food quality and brand relevance.
Josh Kobza, Chief Executive Officer of Restaurant Brands International, said: “China remains one of the most important long-term growth opportunities for the Burger King brand globally. With CPE as our partner and a clear strategy focused on food quality, restaurant execution, and brand relevance, we believe Burger King China is well positioned to build a high-quality, sustainable business.”
