Chinese Wok owner to take over Burger King operator

R Amin02 mins mins

<h2>Chinese Wok</h2> <p> owner to take over Burger King operator” decoding=”async” fetchpriority=”high”/></p></div> </div> </div> </section> </div></div> </div> <p>MUMBAI: Inspira Global, which owns the Chinese Wok brand, is acquiring Burger King India operator Restaurant Brands Asia (RBA).</p> <p>As part of the deal, Everstone Capital will exit RBA by selling its entire 11.3% stake to Inspira Global for about Rs 460 crore.<!-- --> The quick service restaurant space has been going through a slowdown on subdued consumer spending.</p> <p><span class=Inspira, promoted by Aayush Agrawal and Madhusudan Agrawal, has also proposed to infuse about Rs 900 crore through a preferential allotment of equity shares and Rs 600 crore through the preferential allotment of warrants, the companies said in a filing.

Everstone Capital held stake in RBA through its investment vehicle QSR Asia.

The deal was finalised at nearly 10% premium to RBA’s closing price of Rs 64 on the BSE on Tuesday. RBA operates Burger King in India and Indonesia, and runs brand Popeyes in Indonesia.

Burger King, which competes with players such as McDonald’s and KFC in the QSR space in India has over 575 outlets in the market.

The deal will allow Inspira Global to expand its portfolio in the QSR space and gain market share.

Through its food and beverage arm Lenexis Foodworks, Inspira Global already runs more than 250 Chinese Wok restaurants across over 45 cities.

“The investment strengthens Inspira Global’s focus on consumer businesses and deepens our presence in the high-growth QSR segment, aligned with our emphasis on brand stewardship, operational excellence and disciplined capital deployment,” said Aayush Agrawal.

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