manchesterwired
11/05/2013 - Last News Update: 23:54
Business
Please note: this article is over 8 weeks old and may not reflect the current events in regards to this particular matter. Related links may not be up to date in regards to this news story.
Burger King to open 1,000 restaurants in China
Published: 15th Jun 2012 23:10:27
Fast-food giant Burger King has said it will open 1,000 restaurants in China over the next five to seven years.
The announcement comes after the group signed a joint venture agreement with the Kurdoglu family, which is already Burger King's largest franchisee, and private equity firm Cartesian Capital.
Burger King currently owns 63 outlets in China. Rival McDonald's owns 1,400.
Other fast-food groups are also looking to take advantage of China's rapidly-growing middle classes.
In April this year, Miami-based Burger King announced its intention to relist on the New York Stock Exchange after its owner, private equity group 3G Capital, agreed to sell a 29% stake in the company for $1.4bn (£890m) to UK-based investment vehicle Justice Holdings.
3G Capital, which bought Burger King for $3.26bn in September 2010, retains a 71% stake in the company.
Source:
BBC NewsExternal LinkShow Citation
Harvard Citation
BBC News, 2012. Burger King to open 1,000 restaurants in China. [Online] (Updated 15 Jun 2012)Available at: http://www.manchesterwired.co.uk/news.php/1434980-Burger-King-to-open-1-000-restaurants-in-China [Accessed 11th May 2013]
blog comments powered by Disqus
Latest News
-
At 21:50:33 in Other
Immigration officers make eight arrests in Northern Ireland
Eight people have been arrested in Northern Ireland within the last 24 hours by immigration enforcement officers from the Home Office.... -
At 19:06:48 in Other
Salford prison van fugitive Ryan McDonald caught
The second of two men being hunted by police after a prison van escape on 30 April has been recaptured, Greater Manchester Police have said.... -
At 14:17:45 in Other
Man held over alleged assault at Royal Northern College of Music
A man has been arrested on suspicion of indecent assault as part of a police investigation into historical sexual abuse at a Manchester musi... -
At 14:15:43 in Other
Warrington Council urges HS2 plan re-think
The proposed route for the new HS2 train line, bypassing Warrington, will have a negative impact on the town's economy, councillors hav... -
At 11:17:34 in Other
Operation Chalice child prostitution investigation ends
The High Court has upheld a decision by a judge that a man accused of child sex abuse offences whose trial collapsed is mentally unfit to st... -
At 11:14:46 in Other
Man charged over attempted rape in Greater Manchester
A man has been charged with the attempted rape of a woman in the Radcliffe area in Greater Manchester. ... -
At 08:05:39 in Other
National Eisteddfod: Call to hold festival in England every 10 years
Organisers of the National Eisteddfod should consider holding the event in England to widen its appeal, according to two politicians. ... -
At 04:33:45 in Other
UWE Bristol campus hotel proposals are deferred
Councillors have deferred a decision over plans for a 200-bed hotel on a university campus in Bristol.... -
At 03:01:03 in Other
Former Archbishop of York 'did not report' sexual abuse claims
Sexual abuse complaints against a Church of England cleric were not referred to police by then Archbishop of York, David Hope, it has emerge... -
At 22:09:38 in Other
Smithills Open Farm: Offers of help for torched Bolton attraction
A Bolton animal farm torched in an arson attack has been "inundated" with offers of help from around the world. ...
News In Other Categories
-
Arrests made across Scotland in immigration raids
Almost 50 people have been arrested across Scotland after being found to be working illegally.... -
Guatemala's Rios Montt found guilty of genocide
A court in Guatemala has found former military president Efrain Rios Montt guilty of genocide and crimes against humanity. ... -
Sarah Storey officially made a dame at Buckingham Palace
Paralympic gold medallist Sarah Storey will be made a dame by the Prince of Wales at Buckingham Palace later.... -
Clarach Bay, Aberystwyth, Sowerby's beaked whale body is removed
The body of a whale has been removed from a mid Wales beach following a post-mortem examination.... -
David Edgar's coalition play set for Chichester Theatre
A new drama about the UK's coalition government by playwright David Edgar is to premiere at the Chichester Festival Theatre in June.... -
Tattooist hygiene grading to launch in Wales by 2014
A voluntary hygiene rating scheme for tattoo studios in Wales, the first of its kind in the UK, is set to be introduced next year....
- Home
- Sitemap
- Publishers
- Advertisers
- Contact
-
Any copyright/incorrect article details issues should be addressed to us 'here'.
© 2010 All Rights Reserved.