Burger King to more than triple outlets in China under joint venture plan

Image for article Burger King to more than triple outlets in China under joint venture plan
News Source : Al Jazeera English

News Summary

  • Fast-food chain aims to expand to more than 4,000 locations in China by 2035.
  • Beijing-based private equity firm CPE will hold a stake of about 83 percent in the company.
  • Burger King entered the Chinese market in 2005, opening its first outlet opposite a Buddhist temple in downtown Shanghai.
  • Last week, US coffee chain Starbucks announced it would sell a 60 percent stake in its China business to a Hong Kong-basedprivate equity firm after years of losing market share to local competitors.
Burger King plans to more than triple the number of its restaurants in China within a decade under a new joint venture with a local partner, the fastfood giant says.The joint venture, Burger King [+1730 chars]

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