Oakville / CA. (rbi) Groupe Bertrand, the majority shareholder of Burger King France, and Qualium Investissement, the owner of Quick Group, signed an offer letter for BK France to acquire Quick, the owner of the «Quick» fast food hamburger chain. Burger King France, the master franchisee of the BK brand in France, intends to convert Quick restaurants in France to BK restaurants over time.
Daniel Schwartz, Chief Executive Officer of Restaurant Brands International Inc. (RBI), stated, «As a shareholder of Burger King France, we applaud Olivier Bertrand and Groupe Bertrand in their efforts to acquire Quick. The transaction will significantly accelerate our BK 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 five million EUR, one of the highest levels in the world, and expects to have approximately 50 restaurants in the country by year end».
Josh Kobza, Chief Financial Officer of RBI, added, «This transaction represents a significant step forward for Burger King France, which will have more than 500 restaurants and one billion EUR of system sales following the transaction. Following the conversion, BK is expected to be the Number 2 QSR brand in France, and France will become one of the largest markets for BK 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».
Subject to regulatory, shareholder and bondholder approvals, the proposed transaction is estimated to close by the end of 2015.
About Restaurant Brands International
Restaurant Brands International Inc. (RBI) is one of the world’s largest quick service restaurant companies with over 23 billion USD in system-wide sales and over 19’000 restaurants in approximately 100 countries and U.S. territories. RBI owns two of the world’s most prominent and iconic quick service restaurant brands – Tim Hortons (TH) and Burger King (BK). These independently operated brands have been serving their respective guests, franchisees and communities for over 50 years.
About Burger King France
Burger King France is a «Burger King» master franchise joint venture partner that develops and operates «Burger King» restaurants in France. The company is primarily owned by Groupe Bertrand, a French entrepreneurial family group. Restaurant Brands International Inc., the owner of the «Burger King» brand, retains a minority stake in Burger King France. As of September 28, 2015, Burger King France operated 26 «Burger King» restaurants in France. The company was formed in 2013 and is headquartered in Paris, France.
Quick Group is a European QSR chain operating mainly in France, Belgium and Luxemburg. The company is owned by Qualium Investissement, a leading private equity firm in France. As of September 28, 2015, Quick operated 509 restaurants in France, Belgium, Luxemburg and outside of Europe. In 2014, Quick served 200 million customers and generated system-wide sales of 1.0 billion EUR. The company was founded in 1967 and is headquartered in Antwerp, Belgium.
About Groupe Bertrand
Groupe Bertrand is a family group led by founder Olivier Bertrand that develops and operates restaurants, hotels and beverage distribution companies. Within the restaurant sector, Groupe Bertrand operates luxury dining, traditional dining, quick service restaurants and concession stands. The firm is the majority shareholder of Burger King France, a «Burger King» master franchise joint venture partner. Notable brands owned by Groupe Bertrand include «Burger King», Au Bureau, Café Leffe, Angelina, Brasserie Lipp, Le Saint-James Paris and The Relais Christine. Groupe Bertrand was founded in 1997 and is headquartered in Paris, France.
About Qualium Investissement
Qualium Investissement, a subsidiary of the competitive sector of La Caisse des Dépôts and recognized by AMF, manages capital for French and foreign third parties. Qualium Investissement was founded in 1998 and operates 1.2 billion EUR from more than 40 French and foreign third party subscribers. Since its founding, it has invested in approximately 60 active companies in all of the big business sectors (industry, food processing industries, specialized distribution, engineering, et cetera).