BURGER KING WORLDWIDE, INC. ENTERS JOINT VENTURE WITH EVERSTONE GROUP IN INDIA
(Thomson Reuters ONE) -
News Release
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BURGER KING WORLDWIDE, INC. ENTERS JOINT VENTURE WITH EVERSTONE GROUP IN INDIA
Entry into India Part of Burger King Worldwide, Inc.'s Global Growth Strategy
MIAMI - November 19, 2013 - Burger King Worldwide, Inc. (NYSE: BKW) and
Everstone Group, a leading private equity and real estate firm in India and
South East Asia, today announced the establishment of a joint venture to develop
the BURGER KING(®) brand presence in India. Under the terms of the partnership,
the joint venture has signed a long-term master franchise and development
agreement which includes sub-franchise rights for all of India.
"After a very thorough process, we chose Everstone as our partner based on its
history, business acumen and command of the massive and complex India market,"
says Elias Diaz Sese, president, BK AsiaPac Pte. Ltd. "Everstone's operating
capabilities and significant experience within the food and beverage space make
it the ideal partner."
Over the next few months, Everstone will work together with BK AsiaPac Pte. Ltd.
to set up the supply chain in India and execute a roll-out plan to establish
BURGER KING® restaurants across the country.
"India is a market with huge potential for BURGER KING® restaurants and we have
the chance to offer the unique BURGER KING® brand proposition to its consumers
with our own local twist to the menu. I am very excited about this venture and
have no doubt that with Everstone's management expertise and hands-on
experience, this venture will be a tremendous success," adds Diaz Sese.
"BURGER KING®, one of the world's most popular and iconic brands, has yet to
establish its presence in India. We are very excited to partner with BK AsiaPac
Pte. Ltd. and become the master franchisee for India, "says Sameer Sain, co-
founder and managing partner, Everstone Group. "Everstone will bring its vast
consumer insights, extensive retail real estate expertise, experience of food &
beverage operations as well as requisite capital to bear to build the BURGER
KING® brand into India's leading quick service restaurant."
About Everstone Group
Everstone is one of the leading private equity and real estate investors in
India and South East Asia with approximately USD 2 billion under management. It
was founded in 2006 by Atul Kapur and Sameer Sain and has more than 135 people
working across five offices (Singapore, Mumbai, Delhi, Bangalore and Mauritius).
Everstone is also one of the largest developers of shopping malls and industrial
warehouses in India with developments across 17 cities in India. Within its
private equity business, Everstone has investments in several companies across
various sub-sectors such as consumer products and services, food & beverage,
education, healthcare, financial services and logistics. Everstone is a very
long term investor and follows a highly active and operational approach towards
Investments. Everstone was also awarded the best private equity firm in India by
PE Asia two years in a row (2011 and 2012).
About Burger King Worldwide
Founded in 1954, BURGER KING® (NYSE: BKW) is the second largest fast food
hamburger chain in the world. The original HOME OF THE WHOPPER®, the BURGER
KING® system operates in over 13,000 locations serving more than 11 million
guests daily in 91 countries and territories worldwide. Approximately 99 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 Burger King Worldwide, please visit the company's website at
www.bk.com or follow us on Facebook and Twitter.
Forward-Looking Statements
This press release includes forward-looking statements, which are often
identified by the words "may," "might," "believes," "thinks," "anticipates,"
"plans," "expects," "intends" or similar expressions and include statements
regarding the expectations of Burger King Worldwide, Inc. ("BKW") regarding the
growth opportunities in India and the ability of the joint venture to capitalize
on these opportunities and rapidly expand the BURGER KING® brand's presence in
India. These forward-looking statements may be affected by risks and
uncertainties in BKW's business and market conditions. This information is
qualified in its entirety by cautionary statements and risk factor disclosure
contained in filings made by BKW with the Securities and Exchange Commission,
including BKW's annual report on Form 10-K for the year ended December
31, 2012. BKW wishes to caution readers that certain important factors may have
affected and could in the future affect BKW's actual results and could cause
BKW's actual results for subsequent periods to differ materially from those
expressed in any forward-looking statement made by or on behalf of BKW,
including the risk that the joint venture will not be successful in opening
BURGER KING® restaurants in India, that the BURGER KING® will not become India's
leading quick service restaurant or that the opportunities to open restaurants
in India will decline. BKW undertakes no obligation to update forward-looking
statements to reflect events or circumstances after the date hereof.
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originality of the information contained therein.
Source: Burger King Worldwide Inc via Thomson Reuters ONE
[HUG#1744219]
Unternehmensinformation / Kurzprofil:
Datum: 19.11.2013 - 14:55 Uhr
Sprache: Deutsch
News-ID 318247
Anzahl Zeichen: 6764
contact information:
Town:
MIAMI, Florida
Kategorie:
Business News
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