((Reuters)) -Restaurant Brands International said on Monday Chinese firm CPE will invest about $350 million in Burger King China as part of a joint venture that aims to more than triple the burger chain’s store count by 2035.
Following the transaction, CPE will hold an 83% stake in the business, while RBI will retain about 17% and a seat on the board.
The move comes after RBI in February bought out stakes in Burger King China for about $158 million, saying it would seek a local partner to invest in the business amid softening demand and stiff competition in China’s fast-food market.
The Tim Hortons parent, which beat its quarterly sales and profit estimates last month, will receive royalties from Burger King China in the international segment once the deal with CPE closes, which is expected to be in the first quarter of 2026.
(Reporting by Anshi Sancheti in Bengaluru; Editing by Shreya Biswas)
