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Burger King France in talks to buy Quick

Published 2015-09-28, 11:50 a/m
© Reuters. Burger King France in talks to buy Quick
QSR
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LONDON, Sept 28 (Reuters) - Burger King France's majority
shareholder Groupe Bertrand has started exclusive negotiations
to buy French chain Quick, a deal that would make it the second
biggest fast food restaurant in France, behind market leader
McDonald's MCD.N .
No financial terms were given for the deal in the joint
statement from Groupe Bertrand and Qualium.
Burger King France has 25 restaurants and posted revenues of
100 million euros in 2014 -- a fraction of Quick's 1.029 billion
euros in revenues for the same period and 509 restaurants.
The acquisition of Quick from majority shareholder Qualium
Investissement would signal an important step in Burger King's
revival in France. It only reopened there in 2013, having left
in 1997, selling a large number of its restaurants to Quick.
If the deal goes through Quick restaurants in France would
be rebranded as Burger King, while those in Luxembourg, Belgium
and outside Europe would keep their original name, the companies
said in a statement.
Restaurant Brands International QSR.TO , the owner of the
Burger King brand, has a minority stake in the French franchise.
The acquisition could close by year end and is subject to
the approval of competition authorities and bondholders, as well
as a consultation with employee representative bodies.
Qualium had tried to sell Quick in 2010 but pulled the
process when offers did not match its price expectations.
Quick is 94 percent owned by Qualium, with management
holding the remaining 6 percent, said a spokesperson for the
private equity fund.

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