Restaurant Brands Iberia (RB Iberia) announced this Wednesday that it intends to transform Portugal “in a key market for Burger King“, which provides for an investment of 150 million euros and the opening of 90 restaurants by 2025.
RB Iberia announced the closing of the purchase of 158 restaurants of the Burger King chain from Ibersol, in Portugal and Spain, for 260 million euros.
“RB Iberia’s goal is to turn Portugal into a key market for Burger King worldwide with an investment of 40 million euros and some 15 openings” this year, says the group.
In addition, “the group has an ambitious growth plan for the brand in Portugal for the next three yearswith an investment of 150 million euros and the opening of 90 restaurants between 2022 and 2025”, continues the company.
On a global level, RB Iberia’s plan for this year “is to invest 130 million euros, with the aim of growing by more than 25%”.
RB Iberia plans to open “120 new restaurants this year to exceed 1,200 in the system (own and franchisees), of which more than 80 will correspond to Burger King Portugal and Spain”, says the group.
This purchase “is strategic for the group,” says Gregorio Jiménez, president of RB Iberia, quoted in a statement.
“It will allow to accelerate the development of Burger King in the Portuguese market”, being that “the support of our partner, Cinvenm, was essential to successfully close this operation“, adds the manager, adding that he intends to “advance the geographical diversification of the brand through an innovative and sustainable restaurant model”.
The completion of the operation “is conditional on the completion of the regulatory procedures with the Competition Authority that are already underway.”
The operation includes the integration of 121 restaurants in Portugal and 37 in Spain, which will increase the number of RB Iberia’s own spaces to 775, of which 722 correspond to Burger King.
In Portugal, the Burger King brand currently has 164 restaurants, of which 137 are franchised and 27 owned.
Last year, brand sales in Portugal reached 145 million euros.
“The brand has recently reached 900 restaurants in Spain, of which, through the operation, 574 are owned and 326 franchised,” says the group.
Burger King Spain total sales exceeded 1,000 million euros last year (almost 30% more than in the previous period), having recovered pre-pandemic figures in record time.
Source: Observadora
