Sou Hu Cai Jing·2025-11-11 02:17Core Viewpoint - CPE Yuanfeng and Restaurant Brands International (RBI) are forming a strategic partnership to establish a joint venture named "Burger King China," with an initial investment of $350 million to support expansion and operations in the Chinese market [1][2]. Group 1: Investment and Partnership Details - CPE Yuanfeng will inject $350 million into Burger King China for restaurant expansion, marketing, menu innovation, and operational improvements [1]. - The joint venture will be governed by a 20-year master development agreement, granting exclusive rights to develop the Burger King brand in China [1]. - Post-transaction, CPE Yuanfeng will hold approximately 83% of Burger King China, while RBI will retain about 17% [1]. Group 2: Market Expansion Plans - The partnership aims to increase the number of Burger King outlets in China from approximately 1,250 to over 4,000 by 2035, with a focus on sustainable same-store growth [2]. - The transaction is expected to be completed in the first quarter of 2026, subject to regulatory approval [2]. Group 3: Industry Context - The collaboration reflects a growing trend where global brands partner with asset management companies to expand in the Chinese market, as seen with Starbucks' recent joint venture with Boyu Capital [2]. - Starbucks currently operates 8,000 stores in China and aims to reach 20,000 stores through its new joint venture [2].