Restaurant Brands Asia Ltd's arm acquires Indonesia rights for POPEYES® Restaurants

Restaurant Brands Asia Limited (the "Company") through its step down subsidiary company, PT Sari Chicken Indonesia, has acquired exclusive master franchise and development rights in Indonesia to develop, establish, own, operate, and to grant franchises, of POPEYES® Restaurants.

PT Sari Chicken Indonesia (a wholly owned subsidiary of PT Sari Burger Indonesia ("BK Indonesia") which is a subsidiary of the Company), a company duly established under the laws of Indonesia, has entered into an exclusive Master Franchise and Development Agreement ("MFDA") and other related agreements/documents with PLK APAC Pte. Ltd., a subsidiary of Restaurant Brands International Inc. (RBI), to develop, establish, own, operate, and grant franchises of POPEYES® Restaurants in Indonesia, and would open around 300 restaurants in the initial phase of 10 years. As per the requirement under MEFDA, BK Indonesia has invested IDR 75,07,00,00,000 in PT Sari Chicken Indonesia on July 26, 2022.

Shares of Burger King India Limited was last trading in BSE at Rs. 116.30 as compared to the previous close of Rs. 115.50. The total number of shares traded during the day was 37762 in over 813 trades.

The stock hit an intraday high of Rs. 117.60 and intraday low of 113.75. The net turnover during the day was Rs. 4362451.00.

Source : Equity Bulls

Keywords

RestaurantBrandsAsia INE07T201019 MasterFranchise Indonesia POPEYES