Press release from Business Wire
Redberry Investments Corp. Acquires 94 BURGER KING® Restaurants in Canada; Becomes Master Franchisee in Canada
<p class='bwalignc'> Acquisition Part of Burger King Worldwide, Inc.'s Global Refranchising Strategy </p>
Monday, April 22, 2013
Redberry Investments Corp. Acquires 94 BURGER KING® Restaurants in Canada; Becomes Master Franchisee in Canada17:00 EDT Monday, April 22, 2013
MIAMI (Business Wire) -- Burger King Worldwide, Inc. (NYSE: BKW) today announced the sale of its Canadian subsidiary Burger King Restaurants of Canada (“BKRC”), including 94 company-owned BURGER KING® restaurants in the Canada market to Redberry Investments Corp. (“Redberry”), which is privately owned and operated by three shareholders, Robert Laverdure, Andreas Kragaris and Christian LeBrun. Through its ownership of BKRC, Redberry is now the brand's master franchisee in Canada.
“We believe there is tremendous opportunity to grow the BURGER KING® brand in Canada,” said Steve Wiborg, chairman of North America, Burger King Worldwide, Inc. “I look forward to working with our master franchisee as they help expand our footprint across the country by delivering superior products and a positive guest experience in an inviting dining environment.”
Andreas Kragaris, an owner of Redberry said, “We are very excited to increase our portfolio with the BURGER KING® brand. With new brand initiatives, including new product lines, we look forward to playing a key role in the ongoing success of the brand in the region.”
As part of the agreement, Redberry will implement a new restaurant opening program and an aggressive restaurant remodel strategy, which includes reimaging its restaurants to the company‘s global 20/20 design in the next three years.
ABOUT BURGER KING WORLDWIDE, INC.
Founded in 1954, BURGER KING® (NYSE:BKW) is the second largest fast food hamburger chain in the world. The original HOME OF THE WHOPPER®, the BURGER KING® system operates in nearly 13,000 locations serving over 11 million guests daily in 86 countries and territories worldwide. Approximately 97 percent of BURGER KING® restaurants are owned and operated by independent franchisees, many of them family-owned operations that have been in business for decades. To learn more about Burger King Worldwide, Inc. please visit the company's website at www.bk.com or follow us on Facebook and Twitter.
ABOUT REDBERRY INVESTMENTS CORP.
Redberry Investments Corp., established in Quebec in 2005, is privately owned by three shareholders, Robert Laverdure, Andreas Kragaris and Christian LeBrun. The company is set to have offices in Montreal, Toronto, Calgary and Detroit and more than 6,000 corporate employees.