Restaurant Brands International Inc. announces joint venture to grow Burger King® brand in Spain
OAKVILLE, ON, Feb. 11, 2016 /PRNewswire/ - Restaurant Brands International Inc. ("RBI") announced the establishment of BK Spain 2016, S.L., the joint venture between Burger King Europe GmbH and the shareholder of BK QMI Spain, S.L., formerly known as Quick Meals Ibérica, S.L., to accelerate net restaurant growth potential and continue to expand the BURGER KING® brand in Spain. BK Spain has signed a long-term master franchise and development agreement, which includes sub-franchise rights for Spain.
"We are excited to announce the creation of this joint venture in Spain to continue to aggressively expand the BURGER KING® brand and business in this important market," says José Cil, president of BURGER KING®. "Quick Meals and Gregorio Jimenez have been valuable partners to the BURGER KING® system for more than 30 years. Today, Quick Meals is the largest and most profitable franchisee in Spain and one of our largest and most profitable around the globe."
"BURGER KING® is one of the world's most popular and iconic brands and has a rich history in Spain," said Gregorio Jimenez, executive chairman of Quick Meals and the Burger King Spain JV. "We have ambitious development plans in Spain. We are eager to grow our share in this market by continuing to focus on delivering exceptional service and great-tasting food to our guests."
BURGER KING® opened its first restaurant in Europe in 1975, more than 40 years ago, in the heart of Madrid. Today, the brand is the market leader in store count with more than 650 locations in Spain.
The BK Spain joint venture is the latest example of RBI's commitment to deliver on its aggressive international growth strategy to grow the BURGER KING® and TIM HORTONS® brands.
About Restaurant Brands International
Restaurant Brands International Inc. is one of the world's largest quick service restaurant companies with approximately $23 billion in system sales and over 19,000 restaurants in approximately 100 countries and U.S. territories. Restaurant Brands International owns two of the world's most prominent and iconic quick service restaurant brands – TIM HORTONS® and BURGER KING®. These independently operated brands have been serving their respective guests, franchisees, and communities for over 50 years. To learn more about Restaurant Brands International, please visit the Company's website at www.rbi.com.
About BURGER KING®
Founded in 1954, the BURGER KING® brand is the second largest fast food hamburger chain in the world. The original HOME OF THE WHOPPER®, the BURGER KING® system operates more than 14,000 locations in approximately 100 countries and U.S. territories. Almost 100 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. The BURGER KING® brand is owned by Restaurant Brands International Inc. (TSX,NYSE:QSR), one of the world's largest quick service restaurant companies with more than $23 billion in system sales and over 19,000 restaurants. To learn more about the BURGER KING® brand, please visit the BURGER KING® brand website at www.bk.com or follow us on Facebook and Twitter.
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 reflect management's expectations regarding future events and operating performance and speak only as of the date hereof. These forward-looking statements include statements about RBI's expectations regarding the ability of BK Spain to aggressively expand the Burger King brand and business in Spain and its expectations regarding its ability to deliver on its aggressive international growth strategy to grow the BURGER KING® and TIM HORTONS® brands. The factors that could cause actual results to differ materially from RBI's expectations are detailed in filings of RBI with the U.S. Securities and Exchange Commission and on the securities regulatory authorities in each province and territory of Canada, such as its annual and quarterly reports and current reports on Form 8-K and include the following: risks related to RBI's ability to successfully implement its domestic and international growth strategy; and risks related to RBI's ability to compete domestically and internationally in an intensely competitive industry. Other than as required under U.S. federal securities laws or Canadian securities laws, we do not assume a duty to update these forward-looking statements, whether as a result of new information, subsequent events or circumstances, change in expectations or otherwise.
SOURCE Restaurant Brands International