Burger King Enters Joint Venture in France
27 Nov 2013 --- Burger King Worldwide, Inc. has announced the establishment of a joint venture with Groupe Olivier Bertrand, a leading multi-brand restaurant group with approximately 250 restaurants throughout France, in association with Naxicap Partners, a leading private equity firm in France and a minority shareholder in the joint venture, to aggressively develop and expand the BURGER KING brand presence in France.
Under the terms of the partnership, the joint venture has signed a long-term master franchise and development agreement which includes sub-franchise rights for all of France. The joint venture's initial plans include the establishment of BURGER KING restaurants across the country and the creation of more than 1,200 new job opportunities in the first year alone.
"France is one of the largest quick service restaurant markets in Europe and we have been waiting to find the perfect partner that shares our dream of growing our brand here in the right way. We found that with Olivier Bertrand and his restaurant group and team," says José Cil, President Europe, Middle East and Africa, BKW. "Its reputation and savvy in the restaurant community in France is second to none. Groupe Olivier Bertrand's operating capabilities and significant experience within the food and beverage space, along with Naxicap's expertise in capital growth markets, make them the ideal partners for our expansion in France."
"Our development objective is an ambitious one. We have our sights set on a 20% share of the French quick service restaurant market and product leadership in the fast food hamburger segment. The nation's enthusiasm for the unique taste and freshness of the WHOPPER sandwich and additional BURGER KING sandwiches is reflected in the success of the brand's first new restaurant to re-enter the French market, which opened at the end of 2012," says Olivier Bertrand, President of Groupe Olivier Bertrand.
"We're delighted to be supporting a new stage in the group's development. This ambitious plan is well-funded and driven by the expertise of a solid industrial player that is firmly established on a national level," says Eric Aveillan, executive chairman, Naxicap Partners. "With BURGER KING as partner, the joint venture has the best ingredients for success."
The partnership with Groupe Olivier Bertrand is the latest example of BKW's commitment to deliver on its aggressive international growth strategy which includes accelerating net restaurant growth and continuing to grow same store sales.
The Olivier Bertrand group, owned by Bertrand Holding Company, boasted a turnover of nearly 400 million Euros in 2012, with over 2,500 professionals from commercial catering, with brands like Au Bureau, Café Leffe, Brasserie Lipp, Angelina, Bert's (Bertrand Restauration), beverage distribution (Olivier Bertrand Distribution) and the Parisian hotel business (like Saint James Paris).
