Mumbai: Restaurant Brands Asia Limited (RBA or Company), the operator of Burger King® in India and Burger King® and Popeyes® in Indonesia, today announced the successful and timely completion of the transaction in which Inspira Global, through its food and beverage platform Lenexis Foodworks Private Limited, has acquired control of the Company.
The transaction has been completed following the successful conclusion of the mandatory open offer, receipt of the requisite regulatory approvals and fulfilment of customary closing conditions, in accordance with applicable regulations.
With a total investment of ~INR 2235 crores, the transaction marks one of the largest transactions in the Indian quick-service restaurant segment. Following the transaction, Inspira Global owns 41.78% of the Company.
Upon exercise of all warrants, Inspira Global’s total aggregate shareholding in the Company would increase to 48.04% by infusing further INR 450 Cr into the company. The board of the Company also approved appointment of Mr. Madhusudan Agrawal as Chairman of the board and Mr. Aayush Agrawal as non-executive director.
On completion of the transaction, RBA continues to operate the Burger King® and Popeyes® brands under its existing master franchise and development agreements with the respective franchisors, both of which are owned by Restaurant Brands International Inc. The agreements for Burger King India and Indonesia were recently extended through 2050, providing long-term visibility for the business and reinforcing RBA’s growth ambitions across India and Indonesia.
Commenting on the completion of the transaction, Mr. Madhusudan Agrawal, Chairman, Restaurant Brands Asia Limited, said, “Today marks the beginning of an exciting new chapter for Restaurant Brands Asia. We are inheriting a business built on strong brands, exceptional people and sound operating fundamentals. Our role is not to change what has made the business successful, but to strengthen it with patient capital, disciplined governance and a long-term perspective. We are committed to working closely with the existing leadership team to build on this strong foundation and create enduring value for our shareholders, employees, franchise partners and customers.”
Speaking about both companies coming together, Mr. Aayush Agrawal, Director, Restaurant Brands Asia Limited, shared, “This acquisition reflects our conviction in India’s long-term consumption story and our belief that enduring businesses are built through operational excellence, customer obsession and disciplined execution. We have tremendous respect for what the existing leadership team has built and look forward to working together to accelerate the next phase of growth to build one of the most admired food service businesses in the region.”
With the fresh infusion of equity and added leadership strength, the Company will continue to focus on expanding its restaurant network, enhancing customer experience, investing in technology and digital capabilities, strengthening operational excellence and creating sustainable long-term value for all stakeholders.