News

Burger King France hoping to acquire, convert Quick Burger units into BKs

Burger King France, the master franchisee of the Burger King brand in France, intends to convert Quick restaurants in France to Burger King restaurants.

September 29, 2015

Groupe Bertrand, the majority shareholder of Burger King France, and Qualium Investissement, the owner of Quick Group, signed an offer letter for Burger King France to acquire Quick, a hamburger chain. Burger King France, the master franchisee of the Burger King brand in France, intends to convert Quick restaurants in France to Burger King restaurants over time, according to a company press release.

Quick is a European QSR group operating mainly in France, Belgium and Luxemburg. The company is owned by Qualium Investissement, a private equity firm in France. Quick operates 509 restaurants in France,Belgium, Luxemburg and outside of Europe, the release stated.

"As a shareholder of Burger King France, we applaud Olivier Bertrand and Groupe Bertrand in their efforts to acquire Quick," said Daniel Schwartz, CEO of Restaurant Brands International Inc. "The transaction will significantly accelerate our Burger King restaurant growth in France, a key strategic market for the brand. Burger King France, our master franchise joint venture in France, has achieved great success over the past two years, building restaurants with average annual sales of €5 million, one of the highest levels in the world, and expects to have approximately 50 restaurants in the country by year end."

Subject to regulatory, shareholder and bondholder approvals, the proposed transaction is estimated to close by the end of 2015, the release stated.

"This transaction represents a significant step forward for Burger King France, which will have more than 500 restaurants and €1 billion of system sales following the transaction," said Josh Kobza, CFO of RBI. "Following the conversion, Burger King is expected to be the No. 2 QSR brand in France, and France will become one of the largest markets for Burger King globally. The transaction highlights the strength of our partnership with Groupe Bertrand and the master franchise joint venture model to accelerate the pace of our growth around the world."

Restaurant Brands International Inc, which owns Tim Hortons and Burger Kinghas, has more than 19,000 restaurants in approximately 100 countries and U.S. territories. Burger King France is primarily owned by Groupe Bertrand, a French entrepreneurial family group. Restaurant Brands International Inc. retains a minority stake in Burger King France, which operates 26 Burger King restaurants in France.