Paris, June 27, 2018 – Bridgepoint has signed an agreement with Groupe Bertrand, the leading French multi-brand restaurant operator, to support the development of BURGER KING® in France. Under this partnership, Bridgepoint will acquire a minority stake in the holding company of the master franchisee in the territory. Financial details of the transaction were not disclosed.
The BURGER KING® master franchise was granted to Groupe Bertrand in 2013 by Restaurant Brands International (NYSE:QSR) (which retained a minority stake), making it the custodian of the brand in France and granting the exclusive right to roll-out new stores across the country, both through its own network and in association with a dynamic franchise network.
BURGER KING® France is currently the No 2 hamburger quick service restaurant ("HQSR") in France and operates in a market that is estimated to be worth €6.4 billion and growing at 4-6% per annum. France is the No 2 European burger market in terms of per capita consumption.
In 2015, Groupe Bertrand also acquired Groupe Quick, a long-standing HQSR operator, and embarked on a programme of converting Quick outlets to BURGER KING® restaurants. By the end of 2018, BURGER KING® will operate 450 sites, of which 300 will carry its brand.
Olivier Bertrand, Chairman of Groupe Bertrand, said: "The teams and I are very enthusiastic about the prospect of sharing this new stage in BURGER KING®'s development in France with our new partners, Bridgepoint. They have considerable experience through their many investments, including in global food businesses. This high quality partnership to accompany our strong development offers a real opportunity."
Frédéric Pescatori, Bridgepoint Chairman in France, added: "This
is an opportunity for us to develop the roll-out of this very
strong brand, alongside a prestigious group. BURGER KING® is coming
to France after a long period of absence and is currently the
fastest growing brand in its sector."
Advisers to the transaction
Groupe Bertrand - Rothschild, Latham & Watkins, Orrick, Hogan Lovells, KPMG, Roland Berger.
Bridgepoint - JP Morgan, Frieh Associés, Clifford Chance, Arsène Taxand, 8Advisory, LEK.
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