RBI buys Burger King franchise

Restaurant Brands Iberia has notified the competitions authority that it has purchased the Burger King franchise in Portugal.

The notification of the acquisition by RBI for the exclusive control of Iber King Restauração and Lucra – both held by the Ibersol Group – was made on 8 August for the chain of Burger King restaurants that it operates in Portugal and Spain.
The communiqué sent to the regulator states that RBI is active in the fast food restaurant segment under the brand Burger King and has 27 restaurants in Portugal. RBI is controlled by the international private equity company Cinven.
Iberking manages a number of fast food restaurant brands in Portugal which includes the brand Burger King, as well as Lurca, the latter in Spain.
On 3 August, RBI announced the completion of the purchase of the 158 Burger King restaurants that Ibersol managed in Portugal and Spain for €260 million.
RBI, which has the exploration rights for Burger King, Tim Hortons and Popeyes as master franchiser for Portugal and Spain, stresses that the agreement with Ibersol was achieved after months of negotiation.
The operation includes 121 restaurants in Portugal and 37 in Spain which increases the number of Burger Kings outlets on the Iberian peninsula to 722.
In Portugal the brand has 164 restaurants of which 137 are franchised and 27 owned outright with Burger King sales in Portugal topping €145 million in 2021.