Singapore-based Everstone likely to sell Burger King's India franchise

Singapore-based private equity firm Everstone Capital is in advanced discussions with Rahul Bhatia-controlled InterGlobe group to sell India franchise of fast-food chain Burger King in a deal worth Rs 1,400 crore.

Burger King’s franchise rights are held by Everstone Capital’s QSR Asia Pte, a holding company for its restaurant investments in the region.

The discussions come at a time when Bhatia is locked in a dispute with Rakesh Gangwal over their flagship airline IndiGo.

The fast food chain is operating about 140 outlets in India, which clocked sales of Rs 375 crore in FY18. Its outlets are spread between cities in north, west and south India, with the north accounting for the largest number of 60 stores.

Everstone had collaborated with Burger King Corporation in 2013 for operating the India business of the fast-food chain. The PE firm has the rights to restaurant brands such as Coffee Bean & Tea Leaf, Copper Chimney, Bombay Blue and Noodle Bar in India, besides owning rights to Domino’s Pizza in Indonesia.