Bridgepoint to Acquire Master Franchise of BURGER KING® in UK
Bridgepoint has confirmed it has reached an agreement with Burger King Europe GmbH (“BKE”), an affiliate of Restaurant Brands International Inc. (“RBI”), to become the UK master franchisee of BURGER KING®, with exclusive rights to the brand in the UK. It will simultaneously acquire Caspian UK Group, one of the UK’s largest BURGER KING® franchisees with 74 restaurants. Terms of the transaction were not disclosed.
The transaction with BKE will see the establishment of a new BURGER KING® UK entity which will be controlled by Bridgepoint with BKE retaining a minority stake. The new entity will enter into a 20 year master franchise agreement giving it the right to be the custodian of the BURGER KING® brand in the UK, control over the brand’s proposition in the UK and the right to roll-out new stores across the country.
The transaction will also see Bridgepoint support a highly experienced management buy-in team, headed by chairman-designate Martin Robinson whose experience includes Casual Dining Group, where he is also chairman. Martin was former chairman of Center Parcs and Wagamama. The new team will lead the company’s management of the UK territory as well as the roll-out of further stores across the country.
“We are thrilled to announce this agreement to increase the pace of growth for the BURGER KING® brand in the UK, one of the world’s largest quick service restaurant markets,” said José Cil, President of the BURGER KING® brand. “The Bridgepoint team has extensive experience in the UK market and a strong track record investing in and developing leading brands in the quick service restaurant industry, which positions them well for success.”
Bridgepoint said: “BURGER KING® is a pre-eminent global consumer brand with a robust and growing presence in the UK market, well-liked by consumers. This is an opportunity to work with a highly regarded management buy-in team to re-invigorate a much-loved brand and to grow the existing UK business.”
Martin Robinson, chairman designate of the new BURGER KING® UK entity, said: “BURGER KING® is an iconic global brand with a long-standing heritage in the quick service restaurant market. Working with Bridgepoint and BKE, the team believes it can deliver growth and further opportunities for the brand to flourish in the UK market.”
Founded in 1954, the BURGER KING® brand is the second largest fast food hamburger chain in the world. In the UK there are currently over 500 restaurants.
– For Bridgepoint: Travers Smith (Legal, ESG), Harris Williams & Co (Corp Fin), Parthenon EY (Commercial), Deloitte (Financial, Tax, Pensions), Marsh (Insurance), Freeths (Property)- for Caspian UK Group: KPMG (Corporate Finance, Legal, Transaction Services, Tax, Pensions)
– For management buy-in team: Macfarlanes (legal)