Affinity Equity Partners has agreed to acquire franchise rights to the Burger King brand in Japan. No financial terms were disclosed.
Release date- 16102017 – OAKVILLE, ON – Burger King AsiaPac Pte. Ltd. (‘BKAP’) and Affinity Equity Partners (‘Affinity’) today announced a master franchise agreement to develop and strengthen the presence of the BURGER KING brand in Japan. Affinity, one of the largest private equity firms in the Asia Pacific region, has established BK Japan Holdings Co., Ltd. to execute this new agreement.
‘We are excited to announce this agreement to accelerate the pace of growth for the BURGER KING brand in Japan, which is the third-largest economy in the world and represents tremendous opportunities for us,’ said Jose Cil, President of the BURGER KING brand. ‘The Affinity team already has experience developing the BURGER KING brand in Korea, and we’re optimistic that they will replicate their success in Japan to grow the brand.’
Today, the BURGER KING brand has a presence across a number of countries in the AsiaPacific region including China, India, Taiwan, Singapore, and South Korea. This new agreement will further expand the footprint of the BURGER KING brand in Japan, and strengthen its presence in the Asia-Pacific region. The country’s existing 98 restaurants will continue to be operated by the current franchisee.
About BURGER KING
Founded in 1954, the BURGER KING brand is the second largest fast food hamburger chain in the world. The original HOME OF THE WHOPPER, the BURGER KING system operates approximately 16,000 locations in more than 100 countries and U.S. territories. The BURGER KING brand is owned by Restaurant Brands International Inc. (TSX,NYSE:QSR), one of the world’s largest quick service restaurant companies with more than $28 billion in system sales and over 23,000 restaurants. Almost 100 percent of BURGER KING restaurants are owned and operated by independent franchisees, many of them family-owned operations that have been in business for decades. To learn more about the BURGER KING brand, please visit the BURGER KING brand website at www.bk.com or follow us on Facebook, Twitter and Instagram.
About Affinity Equity Partners
Affinity is one of the largest and longest-established independently private equity firms in Asia.
Affinity currently advises and manages more than US$ 8 billion of funds and assets and has completed transactions in more 10 countries with aggregate transaction value of US$ 14 billion.
Affinity has an integrated regional team, comprised of 41 professionals in six countries: Hong Kong, Singapore, Seoul, Sydney, Beijing and Jakarta. As the 100% shareholder of Burger King Korea, the Burger King Master franchise in South Korea, Affinity has achieved significant growth of Burger King restaurants in South Korea. Through enhancing corporate values and brand power on a long-term basis, Affinity has led many retail investment projects to success in the Asia-Pacific region.