Burger King's Impossible Whopper to arrive in San Francisco

Restaurant Brands International Inc. has announced that it has completed its previously announced acquisition of all issued and outstanding shares of Carrols Restaurant Group, Inc. ("Carrols") (formerly NASDAQ: TAST) that are not already held by RBI or its affiliates for $9.55 per share in an all cash transaction, or an aggregate total enterprise value of approximately $1.0 billion.

With the close of the acquisition, RBI adds the largest Burger King® ("BK") franchisee in the United States to its portfolio as part of the Company's Reclaim the Flame plan. 

As previously announced, the Company will invest a further $500M to accelerate the reimaging of more than 600 Carrols restaurants before refranchising the majority of the acquired portfolio to new or existing smaller franchise operators over the next seven years.

In addition, on May 16, 2024, subsidiaries of RBI entered into an amendment to their existing Credit Agreement (the "2024 Amendment") increasing the existing term loan B facility with $5.2 billion outstanding to a $5.9 billion term loan B facility (the "Term Loan B Facility") under the same terms as the existing Term Loan B Facility. The proceeds from the increase in the Term Loan B Facility were used along with cash on hand to complete the acquisition of Carrols, including the payoff of its credit agreement and the redemption and discharge of its outstanding 5.875% senior notes due 2029.

Restaurant Brands Asia, the company managing Burger King and Popeyes franchises in India and Indonesia, announced a reduced third-quarter loss on Monday, driven by robust sales during the festive season.

The firm's overall net loss decreased to Rs 36.18 crore (USD 4.4 million) for the three months concluding on December 31, down from Rs 50.42 crore in the corresponding period the previous year.

However, this marks the seventeenth successive quarterly loss for the company, primarily influenced this time by an almost 10 percent increase in overall expenses.

The company, operating fast-food franchises under Restaurant Brands International, stated that prices of ingredients such as chicken, cheese, tomatoes, and onions experienced a 12.6 percent increase.

Nevertheless, there was a roughly 15 percent rise in revenue for the quarter, supported by increased consumer activity during the Diwali festival in India and the broader Christmas holiday period.

Sales received a lift in India, constituting approximately 74 percent of the total sales, due to the occurrence of certain vegetarian-centric religious periods in September this year, as opposed to October.

In the October-December quarter, the same-store sales growth at Burger King restaurants in India, operated by Restaurant Brands Asia, decelerated to 2.6 percent from the 28 percent recorded in the corresponding quarter of the previous year.

Competing fast-food chain operators, including Devyani International (KFC operator), Sapphire Foods (Pizza Hut operator), Westlife Foodworld (McDonald's operator), and Jubilant FoodWorks (Domino's India franchisee), have not yet disclosed their financial results.
 

Burger King is currently in negotiations with Coca-Cola to establish an exclusive beverage partnership, potentially ending its decade-long collaboration with PepsiCo.

The executives have indicated that the agreement will be finalized and publicly disclosed by the conclusion of the upcoming quarter.

Burger King has had an affiliation with PepsiCo since its inception in India back in 2014.

One executive mentioned, "Coca-Cola has been actively promoting its 'Coke with meals' initiative and holds a 15 percent ownership stake in the food delivery platform Thrive. Thrive, which competes with Swiggy and Zomato, boasts a substantial network of over 14,000 restaurants. This collaboration is mutually advantageous for both restaurants and the beverage manufacturer, and it played a significant role in sealing the agreement with Coca-Cola."

Another executive stated that the level of involvement with PepsiCo at the highest level was constrained.

In India, Burger King has maintained an exclusive collaboration with PepsiCo, despite its global alignment with Coca-Cola. Similarly, KFC and Pizza Hut in India have exclusive agreements to offer PepsiCo's beverages.

This arrangement will provide Coca-Cola with instant access and a strong presence in more than 391 Burger King outlets, including its coffee and beverage subsidiary "BK Cafe" throughout India.

In April of this year, Coca-Cola India made its inaugural investment in an Indian startup by acquiring a share in Thrive, a venture owned by Hashtag Loyalty.

China-based smart POS hardware provider, Telpo, the leading payment platform, AliPay, and the QSR chain giant, Burger King, have jointly launched a self-ordering kiosk to streamline the self-service ordering and payment process. 

Now, the Telpo kiosks have been widely applied in Burger King’s Chinese outlets.

Customers can complete the order and check out by themselves, which will help them save queuing time and enjoy a more convenient and fast order process in a way. Second, self-order kiosks can provide customers interactive experience and enhance their order interesting.

When customer traffic is low, self-order kiosks can display restaurant dynamics and advertisements on the screen. 

In addition, the self-order kiosk K20 (Originally called TPS781) adopts a 3D structured light camera, making the accuracy of face recognition up to 99.9%. In order to further guarantee customers privacy issues, this kiosk possesses the living body recognition technology which completely eradicates fraudulent photos or videos and other beguiling behavior. 
 

Due to ongoing elevated prices, Burger King India customers are now missing out on tomatoes in their wraps and burgers.
 

"According to a Reuters report on August 16th, notices were displayed at two Burger King India locations stating that 'Even tomatoes deserve a break... we regret being unable to include tomatoes in our dishes.'"

Burger King, which boasts almost 400 branches, ranks among India's major burger chains. It's worth mentioning that competitors like McDonald's and Subway have likewise eliminated tomatoes from their offerings.
 

The American sandwich franchise has even discontinued the complimentary cheese slices that were available at its stores for several years.
 

A query on Burger King India's website support section asks, "Where have the tomatoes in my burgers gone?" The response assures customers that the Indian franchisee adheres to stringent quality standards and ensures the imminent return of tomatoes to the menu.

Additionally, the statement urges for your patience and comprehension.

Requests for commentary from Reuters went unanswered by Restaurant Brands Asia, the entity responsible for Burger King Operations in India.

The retail inflation data for July, which was unveiled this week, indicated a 37% annual increase in vegetable prices. Essential items such as onions, peas, garlic, and ginger have all experienced a surge in costs.

In response to the ongoing supply challenges, the government has initiated the importation of tomatoes from Nepal.

Additionally, they have arranged mobile vans to distribute this essential product at more affordable prices nationwide. As per reports on social media, substantial lines have frequently formed in various locations across the country.
 

Owner of Tim Hortons, Burger King and Popeyes, Restaurant Brands International Inc has recorded a robust Q2 with consolidated system wide sales growth of 14% plus year over year generating over $40 billion and a 10% plus global comparable sales increase.

RBI also owns Firehouse Subs.

As per the release, Restaurant Brands Inc crossed the 30,000 restaurant mark.

The brand recorded net income of $351 million versus $346 million in 2022.

It also posted adjusted EBITDA of $665 million increased 10.3% organically versus last year. 

"I am very proud of the continued performance of our teams and our franchisees who helped drive 14% growth in system wide sales and another quarter of improved franchisee profitability. We are generating positive momentum and results behind each of our iconic brands by focusing on new menu innovations, supported by exceptional marketing and operations,” shared CEO Josh Kobza by adding that the team is very motivated by the significant growth opportunities ahead of them in their home markets and around the world.

Restaurant Brands International Inc. is one of the world's largest quick service restaurant companies with more than $35 billion in annual system-wide sales and over 29,000 restaurants in more than 100 countries.
 

Burger King U.S.-Canada and Tim Hortons U.S. made announcements regarding the promotion of new executives to leadership positions.

Restaurant Brands International Inc., headquartered in Toronto, has announced that its Burger King division, based in Miami, has promoted Peter Perdue to the position of Chief Operating Officer (COO) for the United States and Canada.

In this role, Perdue will be responsible for supervising operations across the 7,200 Burger King restaurants located in North America.

The company stated that Perdue will continue to report to Tom Curtis, who serves as the President of Burger King U.S. and Canada.

In addition, Tim Hortons has appointed Katerina Glyptis as the President of its U.S. division, with a reporting line to Axel Schwan, the President of Tim Hortons Canada and the U.S. Glyptis, who has been with RBI in different capacities for nine years, most recently held the position of Vice President of Franchise Operations for Burger King restaurants in both the U.S. and Canada.

Curtis, commenting on Perdue's promotion, stated, "Enhancing operational consistency is crucial for the success of our 'Reclaim the Flame' strategy. Peter has demonstrated his expertise in collaborating with franchisees to drive profitability through operational initiatives. He has also provided valuable support to restaurants through our field team and leveraged his experience in overseeing our business in the Asia Pacific region. As one of the key contributors to our current plan, he is a reliable and trusted partner for our franchisees."

Burger King, established in 1954, operates over 18,700 establishments across more than 100 countries and U.S. territories. In comparison, Tim Hortons, founded in Canada in 1964, has a system wide presence with approximately 5,600 restaurants.

Operator of Domino’s Pizza, Dunkin Donuts and Popeyes in India Jubilant FoodWorks Ltd (JFL) on Thursday declined the news about acquiring stake in QSR chain Restaurant Brands Asia Ltd, formerly known as Burger King India Ltd.

One of the largest QSR operator in the country, Jubilant FoodWorks completely termed the news false and baseless citing that the company is not involved in any such discussions or negotiations nor considering the aforesaid acquisition.

“The Company strongly refutes any information appearing in the news about the Company,” shared Jubilant in its filing.

Earlier, there were reports that Everstone Capital is in talks with JFL and one more player to offload its entire stake in Restaurant Brands Asia.

Burger King is the 2^nd largest burger chain in the world entered India by opening its first restaurant in 2014 at Select CityWalk Mall, Delhi.

The brand today operate close to 400 restaurants of Burger King and BK Cafe.

JFL is part of the Jubilant Bhartia Group and is India's one of the largest food service company. It also holds the master franchisee rights of QSR chains like Domino’s, Dunkin and Popeyes.

Fortinet, the global cybersecurity leader driving the convergence of networking and security, announced that Burger King India, has implemented Fortinet Secure  to achieve high-performance networking capabilities that streamline operations, increase business agility, and bolster security across their data center and restaurant locations.

“Fortinet Secure SD-WAN enables integrated security and simpler management to allow us to evaluate existing risks and gain better visibility into the applications and types of attacks in our data centers. We have embraced the Fortinet Security Fabric’s integrated approach to security and plan to implement additional Fortinet solutions across our restaurants,” shared Manoj Gupta, Associate Vice President – IT, Burger King India.

Burger King India began operating in 2014 as a subsidiary of BURGER KING, the second-largest fast-food hamburger chain in the world. India was the 100th country where Burger King opened a restaurant, and since then, the company has opened over 330 locations throughout the country. With thousands of customers being served daily, Burger King India relies on its internal network to process transactions from customer orders both in-store and online, as well as to provide secure guest Wi-Fi connectivity for application access at the restaurants.

As the Burger King India restaurant network continues to grow and the number of customers increases daily, the company's digital infrastructure and security requirements need to scale accordingly. The restaurants require reliable connectivity to overcome latency or failure as a digital business enabler, improve application availability for both in-store or online orders to enhance the customer experience, and provide visibility across the stores and network to monitor threats and upgrade the restaurants' security posture.

After conducting an internal evaluation of its connectivity and security infrastructure, Burger King India determined that it needed to migrate to Software-Defined Networking (SDN) with advanced threat protection capabilities at all store locations. To achieve this, the company sought a security solution that could provide centralized network control and visibility, improve internal database and customer security, and scale to accommodate new restaurant locations without requiring additional technology expertise.

“As companies strive for digital innovation, they are looking for ways to enhance their WAN networks and provide customers with an exceptional user experience, all while ensuring that their networks remain secure from cyber threats. As the threat landscape expands, organizations must prioritize security in any network deployment,” added Vishak Raman, Vice President of Sales, India, SAARC, SEAHK & ANZ at Fortinet.

Fortinet Secure SD-WAN has enabled Burger King India to reduce costs and achieve higher bandwidth with lower WAN cost, while improving in-store internet availability and addressing connectivity challenges across all restaurants.

Burger King India has launched its latest value range of Tasty Meals, starting at Rs. 99.

With the QSR space becoming more competitive, the newly launched meal offering aims to drive consideration and increase dine-in traffic by providing guests with an irresistible value-for-money deal.

The ‘Tasty Meals’ is all set to treat the hunger pangs of many. With the introduction of meals starting @Rs.99, one can get a lip-smacking meal comprising of a Burger, Fries and a Pepsi Black.

The offer is available across a range including burgers and tacos. Vegetarian options include the Crispy Veg burger meal for Rs.99. One can also opt for Veg Makhani Burst meal, Veg Crunchy Taco meal, Crispy Chicken burger meal, Chicken Makhani Burger meal and Chicken Crunchy Taco meal that is available at different prices.

“We are thrilled to launch the 'Tasty Meals @Rs.99' campaign, which reinforces our commitment to providing guests with an unbeatable value-for-money deal. With the launch of this campaign, we aim to enhance brand love among younger guests by offering them a range of delicious meal options at an affordable price point,” shared Rajeev Varman, CEO, Burger King India.

To unveil this exciting offering, Burger King India has planned a 360-degree campaign that is sure to grab your attention. Starting with a pre-buzz featuring a 10-second product creative across TV, Digital and electronic channels. The campaign also includes a TVC showcasing crazy dance moves on a unique ‘Ninety-Nine’ tune to connect with guests and give them a glimpse of the amazing value they can get with the ‘Tasty Meals starting @ Rs.99’.

“At Burger King India, we are excited to bring this campaign to life as we understand that in today's market, value for money is a key driver of brand consideration. With the launch of our 'Tasty Meals @Rs.99' campaign, we are confident that we will not only satisfy our guests' cravings but also provide them with an unbeatable deal that will make them keep coming back for more,” added Kapil Grover, CMO at Burger King India.

Founded in 2002, US based Meridian Restaurants, that filed for bankruptcy earlier in March and operate 116-unit is closing 27 restaurants.

As per reports, the locations are in Minnesota, Utah, Montana, Kansas, Nebraska and North Dakota.

Many of them are in small towns, such as Lewiston, Montana, a town of about 6,000 people 126 miles north of Billings, reported QSRWEB.COM.

The franchisee is also leaving open the possibility of more closures ahead, saying “it is possible, if not likely,” that further analysis suggests more closures are “appropriate.”

But the company in a filing said that it doesn’t anticipate closing “all or even a substantial portion of their restaurants,” it added.

Meridian and its advisers are negotiating rent concessions and operational improvements with landlords.

“It will be in the debtors’ best interest not to conduct store closings at most of its locations,” the company said in a filing.

The company initially sought court approval to close 23 restaurants on March 29 but last week added four more to the list.

Meridian operated 120 restaurants, most of which it acquired when they were struggling, believing they could be turned around.

Taking a step closer to sustainability and climatic change, Burger King® transitioned 31% of its North American field team fleet to electric vehicles (EVs) across 16 states, with goal of 100% EVs by 2030.

This move is the next step in delivering on Restaurant Brands International’s (parent company of Burger King) science-based targets for reducing greenhouse gas emissions by 50% by 2030, versus a 2019 baseline.

The field team is critical to the brand’s success as the first line of support for Franchisees locally, living in various states across the U.S. and travelling to restaurants to provide the level of service BK Franchisees deserve. This adds up to tens of thousands of miles driven each month.

“Franchisee success is the end goal of everything our field team does, and restaurant visits are critical to this partnership,” said Jeromy Gwin, BK Corporate Franchise Business Partner.

Burger King worked with Element Fleet Management, the largest pure-play automotive fleet manager in the world, to source the EVs and launch the program.

“It was instantly clear Burger King is serious about following through with their commitments and finding solutions that have long-term payoff and positive impact on the environment,” said David Madrigal, Chief Commercial Officer at Element Fleet Management by adding that the brand’s enthusiasm for the goal, combined with the team’s responsiveness and active partnership enabled them to mobilize vehicle sourcing and charging infrastructure installations at record speed making this their fastest program launch across the nation to date.

Owners of Burger King, Tim Hortons and Popeyes, Restaurant Brands International Inc. has appointed Joshua Kobza as Chief Executive Officer (CEO) effective March 1, 2023, as part of its ongoing succession planning process.

Kobza has held increasingly senior roles with the company over the last 11 years, including Chief Financial Officer (2013-2018), Chief Technology Officer and Development Officer (2018-2019) and Chief Operating Officer (2019-2023), including accountability for strategy, technology, human resources, global procurement, supply chain and international development.

He was integral to the acquisitions of Tim Hortons in 2014, Popeyes in 2017 and Firehouse Subs in 2021.

“Over the past several years, the Board of Directors has worked with management to build a thoughtful succession plan for key positions, so this is a natural transition for Josh to lead our next phase of growth. Personally, I’m motivated to work with and help such a talented person like Josh as he steps into this new leadership position,” said Patrick Doyle.

Kobza will undertake his new role reporting to, and working together with, Patrick Doyle, a well-known industry veteran and Executive Chairman of RBI. José Cil will remain with the company for one year as an advisor and assist in the transition.

“We’ve made great progress over the past few years and I’m very proud of the team we have built at RBI. I’ve worked closely with Josh for many years and I am looking forward to supporting him through this transition as we work to accelerate our business further,” added José Cil.

“I am excited to lead the company and work closely with our business Presidents to put our franchisees at the center of our success and accelerate the growth we know our brands are capable of,” said Josh Kobza.

Restaurant Brands International Inc. (“RBI”) is one of the world’s largest quick service restaurant companies with over $35 billion in annual system-wide sales and approximately 30,000 restaurants in more than 100 countries.

RBI owns four of the world’s most prominent and iconic quick service restaurant brands – TIM HORTONS®, BURGER KING®, POPEYES®, and FIREHOUSE SUBS®.

QSR chain Burger King has announced Patrick (Pat) O’Toole as Chief Marketing Officer, beginning Feb. 6.

O’Toole will be accountable for leading marketing efforts to help grow traffic, accelerate sales growth and amplify the fundamental advancements the brand is making to the Guest experience — in support of the brand’s existing Reclaim the Flame plan shared in 2022 — and supported by more than 96% of Burger King Franchisees nationwide.

“We are excited to welcome Pat to the Burger King leadership team and broader BK family. Pat joins us at a milestone moment for the brand, and brings the right combination of perspective, experience and expertise to position BK for success in 2023 and beyond. We have an incredible plan that has been built with and endorsed by our Franchisees. Pat is joining this team to strengthen and build on our existing plans in collaboration with our Franchisees, leveraging his impressive background and past experiences,” shared Tom Curtis, President of Burger King North America.

O’Toole joins the brand following 14 years with PepsiCo, where he most recently served as CMO for Mountain Dew. Prior to that, he held key roles at GE and Black & Decker.

Founded in 1954, the Burger King® brand is a global fast-food hamburger chain that operates more than 18,700 locations in more than 100 countries and U.S. territories.

TOMS King Holdings, an Illinois-based Burger King franchisee has put its subsidiaries operating 90 stores in bankruptcy.

The group has cited pandemic-driven revenue decline and increased overhead costs as one of the main reason for its failure.

The company is one of largest franchisees of Burger King in the region and operates at four locations namely; Illinois, Ohio, Pennsylvania and Virginia.

It filed for Chapter 11 bankruptcy protection with $35.5 million in secured debt and another $14 million in unsecured obligations, according to court documents. And wants to sell its restaurants through the bankruptcy process, reported QSRweb.com.

TOMS in court filings said that its business “suffered significantly from [a] loss of foot traffic, resulting in declining revenue without proportionate decreases in rental obligations, debt service and other liabilities.”

The company then noted that higher costs for shipping and food, a lack of labor and overall inflation exacerbated its problems with cash flow. While some of TOMS’ restaurants are profitable, the company said, others are losing money, making it unable to make its debt payments.

The group started working with its lenders and its franchisor to restructure last year. The company hired a restructuring advisor that ultimately recommended filing for bankruptcy. The company appointed RJ Dourney, the former CEO of the bakery-café chain Cosi, to be an independent manager of the business. It also appointed Daniel Dooley, CEO of the consulting firm MorrisAnderson, to be its chief restructuring officer.

QSR service provider Acrelec will power a global promotional campaign between Burger King and Activision for the release of "Call of Duty: Modern Warfare II,", reported Qsrweb.com.

Burger King will use Acrelec self-service kiosks to redesign restaurants in the style of the videogame, which is now live in over 35 countries.

As an extension of the new ‘Call of Duty’ themed Whopper Meal, Burger King is redesigning certain store locations into immersive experiences and a branded skin.

When customers buy a "Call of Duty"-branded Whopper Meal through the kiosk, they can redeem codes for in-game rewards such as burger-themed skin and additional experience points.

Fans will also be invited to demonstrate their video gaming abilities to track down hidden QR codes in an interactive game played on the kiosk.

Modern Warfare II launches today, with themed restaurants across the Middle East, South America and Europe, complete with maps and scenes from the game.

The Acrelec K27 kiosk in Burger King Paris Alésia will transform into a videogame where customers can experience playing Modern Warfare II on Oct. 29 and 30.

QSR chain Burger King® unveils its new brand positioning and campaign, kicking off with its modernized tagline, “You Rule.”

This work is part of the change Guests nationwide will experience as the brand implements its “Reclaim the Flame” plan, which was announced on Sept. 9.

As part of this plan, a historic “Fuel the Flame” advertising co-investment agreement between BK® and its Franchisees was announced, and “You Rule” is the first campaign to start reclaiming the brand’s rightful share of voice in terms of both media investment and relevancy to Guests.

“In partnership with our new creative agency, OKRP, we’ve developed a simple and meaningful articulation of how Burger King celebrates our Guests. It embodies our purpose, embraces individuality, and elevates Have It Your Way – something our brand has always been known for – beyond pure product customization,” said Tom Curtis, Burger King North America President.

“You Rule” is a key part of the new Burger King brand positioning, and will impact every Guest touchpoint from traditional advertising to the in-restaurant experience. This campaign is the emotional articulation of “Have It Your Way” – “You Rule” is about celebrating everyday royalty, and puts the Guest at the forefront of everything the brand does.

“Advertising, at its best, is most relevant to people when you celebrate them first, not the brand. And that’s what we love about ‘You Rule’ – it invites people in with an approach that recognizes their world, not just sells them stuff,” said Tom O’Keefe, OKRP CEO.

QSR chain Burger King in the UK has purchased 74 restaurants from franchisees Kari Limited and Teresina Limited, reported Qsrweb.com.

With this acquisition Burger King now operate 266 outlets in the UK, nearly half of its 533 UK store count.

According to reports, the burger king also plans to expand and grow to more than 700 stores within the next four years.

"We believe that we have a strong expansion pipeline and are well positioned to take advantage of the clear market opportunities ahead," shared Alasdair Murdoch, CEO, Burger King UK by citing this purchase as an important milestone.

Burger King UK opened 48 restaurants in 2021, 19 new restaurant openings and 29 acquired sub-franchised units.

QSR chain Burger King has announced appointment of Thibault Roux as Chief Digital Officer in the U.S. and Canada, beginning July 18.

Roux will work closely with the talented Burger King digital team to guide the digital growth strategy centered on creating the best Guest experience.

“Thibault joins the iconic Burger King brand well-equipped to define, refine and execute a transformational digital experience for our valued Guests,” said Tom Curtis, President of Burger King North America by adding that Thibault will partner across analytics, marketing, operations and restaurant technology teams to integrate the digital Guest experience into everything Burger King do as a brand — with the aim of both exceeding Guest expectations and driving profitable restaurant traffic.

Roux joins the brand following years of experience in digital leadership roles such as SVP Digital at Optum, VP Product, Experience & Accessibility at UnitedHealthcare, and several roles in innovation and emerging technologies at Target.

Founded in 1954, the Burger King® brand is a global fast-food hamburger chain that operates more than 18,700 locations in more than 100 countries and U.S. territories.

QSR chain Burger King is adding two new Impossible burger offerings to its plant-based menu.

Known as Impossible King and the Impossible Southwest Bacon Whopper, the new plant-based range of burger will be available from 27^th June in select stores in the US.

The Impossible King has a flame-grilled Impossible patty made from plants topped with American cheese, sliced white onions, pickles, ketchup and mustard on a toasted sesame seed bun.

The Impossible King is part of the 2 for $6 Mix n' Match promotion currently available at participating Burger King restaurants in the US, shared the press release.

The Southwest Bacon Whopper is available in both a beef patty and an Impossible patty. The burger features an avocado spread, seasoned tortilla strips, bacon and a spicy sauce.

Also Read: Burger King Tests 'Impossible Burger' in the US, Goes Vegan for the First Time

Burger King launched its first plant-based burgers in April 2019 by joining hands with California- based Impossible Foods that makes plant-based substitutes.

After launching the plant-based burgers in 2019, Burger King location at Leicester Square in London has gone entirely vegan.

The burger chain will serve vegan products until April 10 to determine if there's a demand for fully vegan locations, as per a VegNews.com report.

The outlet will offer the brand's Plant-Based Whopper, its Vegan Royale and a full menu of vegan options, including a kids menu. Newly-launched menu items include the Japanese-inspired Vegan Katsu Royale and the Plant-Based Katsu Chilli Whopper.

The QSR chain also shared that its items will be vegan during the test run, but are not certified and do not carry the vegan trademark.

"We're incredibly proud of our new meat-free menu. It absolutely delivers on big taste with no compromises and reflects our ongoing commitment to serving our customers a diverse and innovative range of products,” said Katie Evans, CMO, Burger King UK.

Owners of Burger King, Tim Hortons and Popeyes, Restaurant Brands International recently entered into a regional partnership with the Ant Group.

With this partnership the company aims to leverage Ant Group’s digital solutions across RBI's restaurants in the Asia Pacific market.

"We couldn't be more excited to launch this groundbreaking partnership with Ant Group, which further supports our mission to make ordering and dining as easy as possible for our guests and leveraging payments to provide a more convenient and personalized experience," shared Ekrem Ozer, President- APAC, Restaurant Brands International by adding that franchisees across Asia will soon be able to benefit from the advantages of digitization across operations and the mini programs' integration into other digital platforms.

Under the collaboration, Ant Group will work with RBI's local franchisees to implement a range of digital solutions, including mini program SaaS solution and Alipay+, a suite of global cross-border mobile payments and marketing solutions.

"Leveraging digital payments and marketing innovations is critical for industries like food and beverage to provide contactless services, boost operational efficiency, and adapt to the fast-changing market conditions," added Angel Zhao, President, Ant Group's International Business Group.

The collaboration aims to enable a more convenient and seamless omni-channel experience for local diners and to uplift the restaurants' operational efficiency.

This activation will take place across eight selected markets in Asia Pacific, and 1,500 restaurants across all three RBI brands.

Owners of Burger King, Tim Hortns, Restaurant Brands International Inc has acquired Florida based sandwich chain Firehouse Restaurant Group Inc for $1.0 billion in an all-cash transaction. 

The transaction offers significant long-term unit growth potential to drive attractive returns for all stakeholders and is expected to be immediately accretive to RBI's diluted net earnings per share.

“Firehouse Subs is a special brand with a talented team, impressive culture and community focus that resonates with guests and closely aligns with our core values at RBI. We see tremendous potential to accelerate U.S. and international growth at Firehouse Subs with RBI's development expertise, global franchisee network and digital capabilities,’ shared José Cil, Chief Executive Officer of RBI  who is excited to welcome the Firehouse Subs team to the RBI family and to continue their ambitious dream of building the world's most loved restaurant brands.

Firehouse Subs adds a strong and loved restaurant brand with attractive unit economics in a complementary category to RBI's existing family of iconic quick service restaurant ("QSR") brands, Tim Hortons®, Burger King®, and Popeyes®.

Founded in Jacksonville, Florida in 1994 by brothers and former firefighters Chris Sorensen and Robin Sorensen, Firehouse Subs is a brand built on decades of culture rooted in public service, creating hot and hearty subs piled high with the highest quality meats and cheeses and a commitment to saving lives through the establishment of the non-profit Firehouse Subs Public Safety Foundation®. 

The brand is a strong and growing player within the $30 billion U.S. QSR sandwich category and since 2010 has increased its number of restaurants 3x to ~1,200 and its system-wide sales1 4x to an expected approximately $1.1 billion for 2021.

This momentum extends into 2021, with October year to date U.S. comparable sales2 versus 2019 of 20%. The brand benefits from a strong family of franchisees who own and operate 97% of the brand's restaurants across 46 U.S. States, Canada and Puerto Rico. Firehouse Subs is expected to generate roughly $50 million of 2021E Adjusted EBITDA3.

“At Firehouse Subs we are united in our commitment to and passion for hearty and flavorful food, heartfelt service, and public safety. Joining the RBI family of brands provides an energizing opportunity to assist more communities, not only across America and Canada, but around the globe.  The donations we generate for our Foundation through our restaurants means changing and saving lives, so we can't wait to accelerate our journey at home and around the world,” added Don Fox, Chief Executive Officer of Firehouse Subs.

Firehouse Subs is frequently rated the #1 brand in its QSR sandwich category for food quality and has one of the strongest brand-love ratings in its category – driven by the Foundation that has now granted $62.5 million in essential life-saving equipment and other support to public safety organizations.

The owners of Burger King, Tim Hortons and Popeyes, Restaurant Brands International have announced financial results for the third quarter ending Sept. 30, 2021.

As per the statement, global system-wide sales grew 11% year-over-year and accelerated sequentially to 5% compared to 2019.

Meanwhile, sales at its largest QSR chain Burger King grew 25% year-over-year and 10% compared to 2019.

“Our results this quarter reflect the value of having a diversified business model across three brands and in over 100 countries. Overall, we saw a continued acceleration in system-wide-sales growth relative to 2019, reflecting improvements in the Tim Hortons Canada business as well as strength across each of our brand's international businesses,” shared José Cil, Chief Executive Officer of Restaurant Brands International Inc by adding that their strong restaurant growth this year and exciting development pipeline keep them on track to return to pre-pandemic unit growth levels this year and well positioned to accelerate in 2022 as they continue on their path to 40,000 restaurants around the world.

Cil continued, "Our highly efficient business model once again generated strong free cash flow, enabling us to continue investing in our business while also enhancing shareholder returns through both our dividend and recently expanded $1 billion share repurchase program. During the quarter, we returned over $425 million of capital to shareholders, including repurchasing just over $180 million of common stock, reflecting the confidence we have in our long-term outlook and the intrinsic value of our scalable business."

The brand also announced its commitment to reduce greenhouse gas emissions 50% by 2030 and reach net zero emissions by 2050 or sooner.

“Our big goal is to drive business growth without carbon growth. I'm so proud of the team's work to set ambitious goals to reduce our carbon footprint in the world. We have exciting and important sustainability projects underway across the company, in green building standards, packaging, recycling, growing our charitable Foundations and doing the hard work with our suppliers and franchisees to improve the environmental footprint we have in the world,” he added.

Restaurant Brands International Inc. is one of the world's largest quick service restaurant companies with approximately $34 billion in annual system-wide sales and over 27,000 restaurants in more than 100 countries.

Owners of Johnny Rockets, Elevation Burger FAT Brands has acquired Twin Peaks, a chain of sports lodges known for scratch-made food and signature 29° draft beers, from Garnett Station Partners for $300 million.

This acquisition brings to FAT Brands a fast-growing, polished casual dining brand, and will be funded with the proceeds of $250 million of new securitization notes and the issuance to the sellers of shares of Series B preferred stock. The transaction is expected to close by the end of September 2021.

“Twin Peaks is a noteworthy addition for FAT Brands. Following the recent acquisitions of Johnny Rockets and Global Franchise Group, this acquisition comes at a time when we’re seeking to expand our market segments into sports and polished casual dining,” said Andy Wiederhorn, CEO, FAT Brands.

The acquisition of Twin Peaks will expand the FAT Brands portfolio from quick-service, fast casual and casual dining concepts into the fast-growing segment of polished casual dining. With 82 stores currently open, six additional stores due to open by year-end 2021, and another 18 under development over the next 18 months, the purchase of Twin Peaks is expected to bring FAT Brands’ system-wide sales from approximately $1.4 billion to over $1.8 billion across more than 2,100 franchised and corporate-owned stores around the world.

The addition of Twin Peaks, including the new stores due to open and under development, is expected to increase the Company’s post-COVID normalized EBITDA by approximately $25 to $30 million.

“The sale of Twin Peaks to FAT Brands marks a major milestone for us after a year of consistent sales growth as we work towards our vision of becoming a global-facing brand,” said Joe Hummel, CEO of Twin Peaks.

Duff & Phelps Securities, LLC served as financial advisor and Kirkland & Ellis LLP acted as legal counsel to Garnett Station Partners. Greenberg Traurig LLP acted as legal counsel to FAT Brands Inc.

Ng Lee Tieng, the current CEO of Burger King Malaysia is now promoted to oversee both Malaysia and Singapore operations from 23^rd July.

Burger King Singapore’s current CEO Goh Chin Hou has resigned from the burger chain.

In Singapore, Ng will continue to accelerate local store expansion and drive the brand's digital transformation from multichannel to omnichannel in the near future.

According to Burger King, the investment will enable it to consistently deliver personalised experiences for shoppers across all its channels and devices.

Ng is also a shareholder and executive director of 99 Speedmart, Burger King's franchise in Singapore and Malaysia. According to the company, Ng is known to have driven the turnaround of Burger King Malaysia, tripling its store count under her tenure.

"I appreciate Goh's significant contributions to the Singapore business, and I wish him continued success in his future. He has laid a strong foundation supported by a strong team which will make for a smooth handover," shared Ng by adding that the solid foundation is already led by Goh.

Meanwhile, Burger King Malaysia said earlier this year that it is investing RM30 million to open 25 new outlets by year-end, adding on to the 120 restaurants it currently oversees.

QSR chain Burger King has opened world’s first plant-based restaurant in Cologne, Germany this week.

As per reports, the burger chain has opened this outlet for one week amid surging mainstream demand for plant-based food as more and more people are opting flexitarian eating habits for environmental, ethical and health reasons.

The restaurant is opened from June 7 to June 11, and has partnered with The Vegetarian Butcher to serve meatless Whoppers, vegan nuggets.

“The news you’ve been waiting for: world’s first plant-based Burger King restaurant has now officially opened in Germany and it’s powered by The Vegetarian Butcher. Food Revolution at its finest – so you can enjoy all the iconic meals, without having to sacrifice a thing,” shared Vegetarian Butcher a subsidiary of Unilever in a social media post.

The exclusive Burger King outlet will also be serving dairy-free vegan ice creams made by Ben & Jerry’s to round it off.

According to the Burger King Germany website, the restaurant is not only aimed at providing more options for herbivores, but is targeted at the rising group of flexitarians and encouraging more meat-eaters to try out vegan options. It pledges to ensure that “everyone gets their money’s worth with our exclusive plant-based” menu.

Restaurant across globe are coming up with new and innovative measures to attract customers. In a recent marketing trail, Burger King Belgium is focusing on fresh and local ingredients as it is all set to re-open in the country from June 9.

As per reports, it is also inviting customers to reclaim old toys, orphaned books and lost keys after almost seven month of closure in Belgium.

The QSR chain has partnered with Paris-based design agency Buzzman that launched an ad campaign on May 25 for Burger King Belgium without a burger in sight. The campaign shows Whopper-eaters back into its restaurants with images of personal items that they might have left behind right before the lockdown last year.

Also Read: Burger King redesigns brand, logo for the first time in 20 years

Burger King is also putting photography of mouth-watering food in favor of a more sentimental approach, illustrating that the chain is nothing without its customers.

The campaign features a variety of snapshots documenting abandoned restaurants, McDonald’s cap hanging on the back of a chair, a kid’s backpack, a stuffed bunny, a charging phone to name a few.

“It’s time to reunite with your keys, toys, socks and even more! You probably can’t wait to see them again, well Burger King also can’t wait to see you again. So book your June 9 to go to Burger King to reunite with your lost items and, as a bonus, you will have the pleasure of tasting a delicious burger,” shared a statement from the fast-food chain.

May Interest: Burger King launches plant-based Chicken Nuggets in Germany

Earlier, last year Burger King also launched a campaign wherein inviting customers to customize their face mask along with the orders.

QSR chain Burger King India Ltd shares declined over 7 per cent on Thursday after the quick service brand reported a consolidated net loss of Rs 25.94 crore for the fourth quarter ended March 2021.

The stock dipped 7.22 per cent to Rs 145.05 on the BSE. However, at the NSE, it tumbled 5.18 per cent to Rs 148.20, reported PTI.

Also Read: Burger King IPO kicks off: Why you should subscribe it

Burger King India Ltd on Wednesday reported a consolidated net loss of Rs 25.94 crore for the fourth quarter ended March 2021.

It had posted a net loss of Rs 37.41 crore during the January-March 2020 quarter, the quick service restaurant chain said in a regulatory filing.

Its total income during the January-March 2021 stood at Rs 199.45 crore, against Rs 192.95 crore in the year-ago period.

May Interest: Burger King India files IPO papers, to raise ₹ 542 crore

Burger King India's total expenses in the March 2021 quarter stood at Rs 219.81 crore.

American multi-national chain of hamburger Burger King has announced that it will redesign its brand for the first time in 20 years.

With this the brand is aiming to reflect its removal of conservatives. This new reinterpretation will include the company logo, uniforms, restaurants and food packaging.

"We’ve been doing a lot in terms of food quality and experience. Updating our visual identity would help signal to our consumers that this is a brand that is evolving,” shared Fernando Machado, Global marketing director, Restaurant Brands International that owns Burger King to Reuters.

Also Read: Burger King launches Impossible Foods meatless sausage in its breakfast menu

The new logo includes a more rounded font that evokes its famous hamburgers and has motifs in shades of brown, red and green as a symbol of its preparation on the grill.

The fast-food chain last changed its logo in 1999.

The QSR chain has also announced last year that it would remove all artificial colors and preservatives from its signature Whopper burgers as fast food chains are increasingly introducing healthier options to follow consumer tastes.

It has also is added a breakfast sandwich made with meat-free Impossible Sausage to its menu in the US.

May Interest: Brand is not a logo or icon, but an experience that you enhance

Earlier, in 2020 Burger King, the second largest burger chain has announced the launch of ‘Rebel Whopper Burger’ in New Zealand. The tagline for their announcement read, "100 percent Whopper, 0 percent beef".

QSR chain Burger King India has filed papers with market regulator Sebi to raise ₹ 542 crore through fresh issuance of shares.

Burger King's initial public offer (IPO) will consist of fresh issue of equity shares amounting to ₹ 542 crore and an offer for sale of up to 6 crore equity shares by the promoter QSR Asia.

The shares will be listed on the BSE and the NSE.

Also Read: Burger King India partners with Delhi Police to provide burgers to orphanages

The QSR chain had filed draft papers with Sebi earlier in November 2019 to raise ₹ 400 crore through fresh issues of shares and an offer for sale of up to 6 crore equity shares by QSR Asia.

It has now increased the funding issue size, in the additional papers filed with the market regulator.

Burger King India will use the IPO proceeds to start new company-owned Burger King Restaurants and for general corporate purposes.

May Interest: Burger King India gets SEBI's green signal to float IPO

It is also planning to roll out around 700 restaurants, including sub-franchised outlets by December 31, 2026, shared the draft prospectus.

American fast-food chain Burger King is launching plant-based chicken nuggets in Germany.

Made by The Vegetarian Butcher, the meat-free products will be available in selected outlets from September 1, reported Plant based news.

Also Read: Genelia & Riteish Deshmukh forays into plant-based meats, launches Imagine Meats

According to the burger chain the launch was in response to the current trend towards conscious nutrition and a growing number of guests who are increasingly relying on plant-based products.

"The Nuggets are soft and meat-like on the inside, crispy and golden on the outside and offer a delicious vegetable-based alternative for all meat lovers who want to reduce their meat consumption,” shared Hugo Verkuil, CEO, The Vegetarian Butcher in an online statement.

Must Read: KFC launches plant-based menu in Hong Kong, name them New Era Plant-based series

Commenting on the same, Klaus Schmäing, Director Marketing, Burger King Deutschland added, "In order to be able to offer guests and fans a very special taste experience, Burger King has worked intensively on product development and has brought in The Vegetarian Butcher as a strong partner who represents the same quality standards as Burger King.”

American hamburger chain Burger King is adding a breakfast sandwich made with meat-free Impossible Sausage to its menu in the US.

The burger chain that began testing the menu item in January, is the first national chain to add Impossible Foods’ sausage to a breakfast sandwich.

The Impossible Croissan’wich will be available for a limited time at participating locations, shared a report by CNBC.

The group has added this in the menu after it reported lower breakfast sales due to the coronavirus pandemic.

Earlier, this year Burger King, the second largest burger chain has announced the launch of ‘Rebel Whopper Burger’ in New Zealand. The tagline for their announcement read, "100 percent Whopper, 0 percent beef".

The burger chain has always offered their Salad Burger as a vegetarian alternative, but the Rebel Whopper promises to have all the taste of the original Whopper burger.

On the other hand, McDonald’s Corp. is currently testing its own version of a plant-based burger, the PLT, or plant, lettuce and tomato, in Canada made with Beyond Meat.

Also, Dunkin also has plant-based Beyond Sausage sandwich which is often paired with its espresso drinks or cold brew, boosting the average check to $9 when it’s ordered.

Burger King India has partnered with Delhi Police to distribute burgers to children in orphanages and community clusters amidst the current COVID-19 crisis.

The Don Bosco Ashalayam and Auxilium Snehalya in Palam Village and Asha Grah Children Home for Boys and Girls in Dwarka were served with burgers as mid day snacks.

Further, kids of JJ clusters in the area of Vikas Puri, GTB Enclave, Madhu Vihar, R.K Puram and Kalkaji were also served burgers. As part of this partnership, Burger King distributed 5,000 burgers.

“We work closely with police officers in our communities on a regular basis and in these unprecedented times, we would like to salute them for their selfless service to the nation. We are honoured to partner with the Delhi Police to provide safe and hygienic food to children in this hour of need,” shared Srinivas Adapa, CMO Burger King.

The staff delivering the meals wear protective gear like masks and gloves to ensure safety, said the company. Since Covid – 19 outbreak, Burger King says that it has further strengthened its restaurant procedures around food safety, cleanliness and hygiene and increased its sanitization frequency in all restaurants across the country.

The Delhi Police also appreciated the brand gesture and were happy to partner with this initiative which brought a smile on the faces of young kids.

Fast Casual chain Shake Shak on Sunday announced that it will return its $10 million Paycheck Protection Program (PPP) loan.

The New York based restaurant was forced to lay off or furlough 1,000 workers due to loss made by the novel coronavirus outbreak.

The move comes a day after Shake Shak announced a $150 million equity infusion from a sale of its stock.

“Late Last Week when it was announced that funding for the PPP had been exhausted, businesses across the country were understandably up in arms,” shared Danny Meyer, Founder, and Randy Garutti, CEO, Shake Shack on LinkedIn, explaining the reasons for returning the loan. “If this act were written for small businesses, how is it possible that so many independent restaurants whose employees needed just as much help were unable to receive funding? We now know that the first phase of the PPP was underfunded, and many who need it most haven’t gotten any assistance,’ it added.

Shake Shack was fortunate to get the capital needed to ensure long-term stability through its stock sale, Meyer and Garutti said, so the chain will immediately return its $10 million PPP loan to the Small Business Administration “so that those restaurants who need it most can get it now,” they wrote.

“Until every restaurant that needs it has had the same opportunity to receive assistance, we’re returning ours,” they wrote.

Meyer heads Union Square Hospitality Group, which has also applied for PPP loans. Some of those restaurants have received money, and “we await the day we’re able to reopen” he said.

Echoing the concerns of independent operators, Meyer and Garutti called for several changes to the PPP loan system.

The fund should have more money in it, they said. And, if that is not possible, restaurants with limited access to outside capital should be moved to the “front of the PPP line,” they said.

Each restaurant applicant should be assigned to a local bank so there’s no worry about having an existing banking relationship.

The “arbitrary” June forgiveness date for PPP loans should be eliminated, they said. “Instead, make all PPP loans forgivable if an adequate number of employees are rehired by a minimum of six months following the date that a restaurant’s state (or city) has permitted a full reopening to the public,” they wrote.

Shake Shack raised $140 million from the sale of shares of its stock in an underwritten offering, in a deal that’s slated to close Tuesday. It received another $10 million through the proceeds of a stock sale program announced late last week.

Before the cash infusion, the chain said it had $112 million in cash on hand and that it was burning through $1.3 million to $1.5 million per week, reported Restaurant Business Online.

Burger King parent Restaurant Brands International Inc. said that it saw comparable sales slowdown from its plant-based Impossible Whopper.

The Burger Chain said this on Monday during its earnings commentary.

“While we did see a deceleration in comparable sales growth in the U.S. from the third into the fourth quarter, our core business continues to perform well and absolute sales levels remain very healthy,” said José Cil, CEO, Restaurant Brands.

According to the company, the price point for the Impossible Whopper has been a challenge to some diners.

The Impossible Whopper is made with the Impossible Foods Inc. burger.

“We know the premium price point has limited some guests from trying the Impossible Whopper, so in January we added the Impossible Whopper offer to our core two-for-six promotion,” shared Cil. “The product clearly resonates with our guests and we plan to invest behind our leadership in the fast growing plant-based segment,” he added.

Whereas, Burger King, the second largest burger chain has announced the launch of ‘Rebel Whopper Burger’ in New Zealand.

The tagline for their announcement read, "100 percent Whopper, 0 percent beef". 

The burger chain has always offered their Salad Burger as a vegetarian alternative, but the Rebel Whopper promises to have all the taste of the original Whopper burger.

On the other hand, McDonald’s Corp. is currently testing its own version of a plant-based burger, the PLT, or plant, lettuce and tomato, in Canada made with Beyond Meat.

Also, Dunkin also has plant-based Beyond Sausage sandwich which is often paired with its espresso drinks or cold brew, boosting the average check to $9 when it’s ordered.

Dunkin’ is targeting younger customers, women and customers on the go for its Beyond Sausage sandwich.

Restaurant Brands globally is sticking with plant-based foods.

“We also have initiatives around breakfast,” said Cil.

American burger giant McDonald’s has chosen entrepreneur Sanjeev Agrawal, promoter of Delhi-based diversified MM Agrawal Group, as developmental licensee for its operations in north and east India.

This happened after nine months when the burger chain had brought out former partner Vikram Bakshi’s stake in their joint venture.

“We have aggressive plans for McDonald’s North and East and our key focus will be to turn around the business,” shared Agrawal who is looking at scale investments to re-image all the outlets.

Also, Moon Beverages is Coca-Cola India’s largest franchisee bottler which is also a subsidiary of MM Agrawal Group.

“Agrawal has a strong understanding of the McDonald’s brand, insights into the local market, and a proven track record of driving innovation in the food and beverage and hospitality industries,” shared a McDonald’s spokesperson in a media statement.

Both McDonald’s India and Agrawal declined to comment on the financials of the deal, or details of terms of operation.

McDonald’s, with its captive mass appeal and aggressive entry-level pricing, is one of the largest players in the fast food service space in the country. After a protracted legal battle which lasted nearly six years, McDonald’s India and its affiliate McDonald’s Global Markets LLC had bought out Bakshi’s stake in their joint venture Connaught Plaza Restaurants Ltd (CPRL) in May last year in an out-of-court settlement. Since then, McDonald’s India took over the management of CPRL and has been running its 165 stores on its own.

In December last year, Agrawal’s Moon Beverages had bought out Coca-Cola-owned bottling partner Hindustan Coca-Cola Beverages’ (HCCB’s) bottling territories in Delhi-NCR and Western UP. McDonalds’s and Coca-Cola also have a long-standing exclusive global beverage partnership.

The Securities and Exchange Board of India (SEBI) has given approval to Burger King India Ltd, the national master franchisee of the American burger brand in India, to float its initial public offering (IPO).

Burger King’s total IPO size is estimated at Rs 1,000 crore. The proposed IPO will be involving private equity firm Everstone selling a quarter of its shares and the burger chain issuing fresh shares worth Rs 400 crore.

The QSR chain will utilize Rs 290 crore out of the fresh net proceeds to launch new company-owned restaurants and part of the money for general corporate purposes. Currently, it has 216 restaurants and eight sub-franchised restaurants across India.

Burger King had filed its documents for the proposed IPO in November 2019.

Everstone is poised to make neat returns from the partial exit. The company, through its investment vehicle QSR Asia Pte Ltd, owns a 99.39% stake in Burger King India.

In 2014, Everstone had formed a rare investment unit to build and operate a brand from scratch in India. Despite investing in a bunch of restaurant chains, Everstone didn’t succeed in making money from all of its bets. However, the firm is looking to more than makeup with Burger King. It has proposed to sell 60 million shares, or nearly a fourth of its stake.

Footprint of Burger King

The brand is owned by Burger King Corporation, a subsidiary of Restaurant Brands International Inc, in the US. Restaurant Brands International Inc holds a portfolio of fast-food brands that also include Popeyes and Tim Hortons.

Globally, Burger King is the second-largest burger brand as measured by the total number of restaurants. The chain has a global network of more than 18,000 restaurants in over 100 countries and US territories at the end of June 30, 2019.

Burger King India will be valued at Rs 3,065 crore, based on the estimated issue size. The brand’s listed peers Westlife Development, the master franchisee for McDonald’s in western and South India, is valued at Rs 6,751 crore, while Jubilant Foodworks Ltd, the franchise for Domino’s, is valued at Rs 24,063 crore.

Business Growth

Burger King’s loss narrowed to Rs 38.55 crore for the year through March 2019 from Rs 81.47 crore the year before. Its revenue from operations jumped to Rs 632.73 crore from Rs 378.12 crore.

The burger chain’s loss for the three months ended June 2019 was Rs 2.14 crore on revenue of Rs 212.27 crore. Its same-store sales growth, a key measure of operating performance, was 12.23% and 29.21% in 2017-18 and 2018-19, respectively.

Burger King has partnered with Unilever’s meat alternative business, The Vegetarian Butcher, to introduce a new plant-based burger. The burger chain is launching the Rebel Whopper in its over 2,500 restaurants across 25 countries in Europe.

The development comes three months after Burger King announced plans to unveil a plant-based burger in the US containing meat-free patties developed by Impossible Foods.

David Shear, President of Burger King EMEA, said, “We are confident that the Rebel Whopper is the sandwich everyone has been waiting for and provides the ultimate plant-based patty alternative with the iconic Whopper build,” said. “I’m excited to let the Rebel Whopper do the talking and see whether our guests can tell the difference.”

Hanneke Faber, President, Unilever foods and refreshment, added, “Less than a year after acquiring The Vegetarian Butcher in the Netherlands, we are excited to partner with the iconic Burger King brand across Europe. The new Rebel Whopper powered by The Vegetarian Butcher offers meat lovers a fabulous meat-free experience.”

Burger King is planning to double the number of stores in India by the end of next year with the funds from IPO. Recently, the US-based fast food chain has filed for an Initial Public Offering (IPO) in the Indian market.

A Marketing Executive of Burger King said, “We are looking for aggressive expansion. The brand has received a good response, and with the IPO, we are looking to double our stores by the end of next year.”

Burger King India has filed for an IPO to raise at least Rs 400 crore. Of these, the brand is looking to use Rs 290 crore to launch new restaurants.

Burger King’s first restaurant in India was opened in 2014. It competes with market leaders like McDonald’s and KFC. Currently, the burger chain has 216 company-owned and eight sub-franchised restaurants across 47 cities including Delhi-NCR, Mumbai, Pune, Chennai, Hyderabad, Bengaluru, Chandigarh, Ludhiana, Amritsar and Kochi.

The company targets to introduce restaurants in new areas, but has ruled out the regional franchise model.

Burger King said in its draft prospectus, “We also intend to open restaurants in new areas and markets where we believe there is a strong potential for growth, in addition to taking advantage of the growing online delivery market, including through engagement with delivery aggregators.”