Joint Venture Part of Burger King Worldwide, Inc.`s Global Growth Strategy
MIAMI - November 26, 2013 - Burger King Worldwide, Inc. (BKW) today announced the establishment of a joint venture with Groupe Olivier Bertrand, a leading multi-brand restaurant group with approximately 250 restaurants throughout France, in association with Naxicap Partners, a leading private equity firm in France and a minority shareholder in the joint venture, to aggressively develop and expand the BURGER KING® brand presence in France. Under the terms of the partnership, the joint venture has signed a long-term master franchise and development agreement which includes sub-franchise rights for all of France. The joint venture`s initial plans include the establishment of BURGER KING® restaurants across the country and the creation of more than 1,200 new job opportunities in the first year alone.
"France is one of the largest quick service restaurant markets in Europe and we have been waiting to find the perfect partner that shares our dream of growing our brand here in the right way. We found that with Olivier Bertrand and his restaurant group and team," says José Cil, President Europe, Middle East and Africa, BKW. "Its reputation and savvy in the restaurant community in France is second to none. Groupe Olivier Bertrand`s operating capabilities and significant experience within the food and beverage space, along with Naxicap`s expertise in capital growth markets, make them the ideal partners for our expansion in France."
"Our development objective is an ambitious one. We have our sights set on a 20% share of the French quick service restaurant market and product leadership in the fast food hamburger segment. The nation`s enthusiasm for the unique taste and freshness of the WHOPPER® sandwich and additional BURGER KING® sandwiches is reflected in the success of the brand`s first new restaurant to re-enter the French market, which opened at the end of 2012," says Olivier Bertrand, President of Groupe Olivier Bertrand.
"We`re delighted to be supporting a new stage in the group`s development. This ambitious plan is well-funded and driven by the expertise of a solid industrial player that is firmly established on a national level," says Eric Aveillan, executive chairman, Naxicap Partners. "With BURGER KING® as partner, the joint venture has the best ingredients for success."
The partnership with Groupe Olivier Bertrand is the latest example of BKW`s commitment to deliver on its aggressive international growth strategy which includes accelerating net restaurant growth and continuing to grow same store sales.
About Groupe Olivier Bertrand
The Olivier Bertrand group, owned by Bertrand Holding Company, boasted a turnover of nearly 400 million Euros in 2012, with over 2,500 professionals from commercial catering, with brands like Au Bureau, Café Leffe, Brasserie Lipp, Angelina, Bert`s (Bertrand Restauration), beverage distribution (Olivier Bertrand Distribution) and the Parisian hotel business (like Saint James Paris).
With €1.5 billion of capital under management, Naxicap Partners is among the top French operators for capital growth in the small to midcap sector. Naxicap Partners, a subsidiary of Natixis, is one of the largest asset management companies in France and the corporate, investment and financial services arm of Groupe BPCE. Naxicap employs 35 professionals in five offices in Paris, Lyon, Toulouse, Strasbourg and Nantes.
About Burger King Worldwide
Founded in 1954, BURGER KING® (BKW) is the second largest fast food hamburger chain in the world. The original HOME OF THE WHOPPER®, the BURGER KING® system operates in over 13,000 locations serving more than 11 million guests daily in 91 countries and territories worldwide. Approximately 99 percent of BURGER KING® restaurants are owned and operated by independent franchisees, many of them family-owned operations that have been in business for decades. To learn more about Burger King Worldwide, please visit the company`s website at www.bk.com or follow us on Facebook and Twitter.
This press release includes forward-looking statements, which are often identified by the words "may," "might," "believes," "thinks," "anticipates," "plans," "expects," "intends" or similar expressions and include statements regarding BKW`s expectations regarding the growth opportunities in France and the ability of the joint venture to capitalize on these opportunities and rapidly expand the BURGER KING® brand`s presence in France. These forward-looking statements may be affected by risks and uncertainties in BKW`s business and market conditions. This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by Burger King Worldwide, Inc. with the Securities and Exchange Commission, including BKW`s annual report on Form 10-K for the year ended December 31, 2012. BKW wishes to caution readers that certain important factors may have affected and could in the future affect BKW`s actual results and could cause BKW`s actual results for subsequent periods to differ materially from those expressed in any forward-looking statement made by or on behalf of BKW, including the risk that the joint venture will not be successful in opening BURGER KING® restaurants in France or that the opportunities to open restaurants in France will decline. BKW undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date hereof.
Burger King France
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Burger King Worldwide:
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Source: Burger King Worldwide Inc via GlobeNewswire