Private equity investor Everstone is preparing to exit Restaurant Brands Asia, the master franchisee for Burger King in India and Indonesia, in a transaction that could bring in a new long term strategic backer and fresh capital for the quick service restaurant operator, according to people familiar with the development.
Everstone plans to sell its entire 11.26 percent holding in Restaurant Brands Asia through its investment arm QSR Asia Pte Ltd. Based on current market prices, the stake is valued at about $57 million. Restaurant Brands Asia is listed on Indian stock exchanges and currently has a market capitalisation of around $437 million.
Sources said the buyer is expected to be the family office of the promoters of Ajanta Pharma, which already has interests across healthcare and food businesses. The family office is likely to come in as a strategic investor and may inject up to Rs 8 billion into the company as part of the transaction. While the exact shareholding has not been finalised, discussions include the possibility of the family office eventually becoming a majority shareholder as other investors look to monetise their holdings over time.
Neither Everstone nor Restaurant Brands Asia responded to queries on the proposed deal. Representatives of the Ajanta Pharma family office also declined to comment.
The potential change in shareholding comes at a time when Restaurant Brands Asia is looking to strengthen its balance sheet and accelerate growth. The company informed stock exchanges last week that its board would meet on Tuesday to consider fundraising options, without providing further details.
Restaurant Brands Asia operates the Burger King brand across India and Indonesia and has been expanding its store network steadily in recent years. The business has faced pressure from rising costs, intense competition and the need for sustained capital investment to support store additions, supply chain upgrades and marketing.
If completed, the transaction would mark a full exit for Everstone, which has been invested in the business since its early years, and could signal a new phase for Restaurant Brands Asia under a capital provider with a longer investment horizon and a sharper focus on operational scale.
