Burger King UK to debut on stock market for £600m
The fast-food chain company, which is owned by the private equity firm Bridgepoint, is ‘understood’ to be in ongoing discussions with bankers from Investec and Numis in a bid to close the deal
Burger King UK is reportedly set to debut on the London Stock Exchange for roughly £600m, according to The Times.
The fast-food chain company, which is owned by the private equity firm Bridgepoint, is understood to be in ongoing discussions with bankers from Investec and Numis in a bid to close the deal.
Under Bridgepoint’s ownership, Burger King UK has been in the process of buying back some of its restaurants from franchisees after being forced to close almost 10% of its UK estate during the peak of the pandemic.
In a recent trading update, the group reported sales of £117m for 2020 compared with £101m in 2019, pre-pandemic.
The fast-food chain expanded its offering last year through its partnerships with Deliveroo, Just Eat and Uber Eats which boosted its sales during the lockdown months.
Under its franchise agreement with Bridgepoint, the group is “obliged” to open in excess of 30 new restaurants each year for the next four to five years, with two-thirds expected to be drive-thru restaurants.
