(Reuters) – Restaurant Brands International said on Tuesday that it has bought interests of his local franchisee for around $ 158 million in Burger King King China, making it almost total owned by the company.
The fast food chain operator said it would involve his advisers in identifying a new local partner to invest in the company.
The company has worked on his China strategy for his citizen King Business, who was confronted with mitigating demand in the second largest market, in the midst of an under pressure consumer expenditure and severe competition.
Restaurant brands acquired the deployment in Burger King China from a holding company TFI Asia Holdings BV and a Blanco Check company Pangea Two Acquisition Holdings XXIII.
Restaurant brands had 1,474 Burger King restaurants in China on December 31, 2024.
(Reporting by Anuja Bharat Mistry in Bengaluru; Edit by Shailesh Kuber)