(Reuters) – Restaurant Manufacturers Worldwide mentioned on Tuesday it has purchased stakes in Burger King China from its native franchisee for about $158 million, giving it practically whole possession of the enterprise.
The quick meals chain operator mentioned it will have interaction its advisors to work on figuring out a brand new native associate to take a position into the enterprise.
The corporate has been engaged on its China technique for its Burger King enterprise which confronted softening demand within the second largest market, amid a pressured client spending and stiff competitors.
Restaurant Manufacturers acquired the stakes in Burger King China from a holding firm TFI Asia Holdings BV and a blank-check agency Pangaea Two Acquisition Holdings XXIII.
Restaurant Manufacturers had 1,474 Burger King eating places in China, as of December 31, 2024.
(Reporting by Anuja Bharat Mistry in Bengaluru; Modifying by Shailesh Kuber)