Prnewswire·2025-11-10 11:30Core Viewpoint - Restaurant Brands International Inc. (RBI) has announced a joint venture with CPE to expand Burger King in China, aiming to grow from approximately 1,250 restaurants to over 4,000 by 2035, supported by a $350 million investment from CPE [1][2][5]. Group 1: Investment and Growth Strategy - CPE will invest $350 million in primary capital to support the expansion, marketing, menu innovation, and operations of Burger King in China, one of the fastest-growing consumer markets [2][3]. - The investment will enable Burger King China to double its restaurant count within five years, aligning with RBI's target of achieving over 5% net restaurant growth by the end of its 2024–2028 outlook period [5][6]. Group 2: Partnership and Operational Insights - CPE is recognized as a leading Chinese alternative asset manager with a strong track record in scaling consumer brands, bringing local market insights and operational excellence to the partnership [3][6]. - Following the transaction, CPE will own approximately 83% of the joint venture, while RBI will retain a minority stake of about 17% and a seat on the Board of Directors, reflecting RBI's strategy of collaborating with experienced local operators [6][7]. Group 3: Development Agreement and Future Prospects - A 20-year master development agreement will be signed, granting exclusive rights to develop the Burger King brand in China, with RBI beginning to recognize royalties from this business in its International segment [7]. - The transaction is expected to close in the first quarter of 2026, pending regulatory approvals, marking a significant step in RBI's plan to simplify its business model while focusing on franchising [8].