Jubilant FoodWorks Ltd (JFL), the franchisee of Domino’s Pizza and Dunkin’, clarified that it has no intention to acquire Restaurant Brands Asia Ltd, formerly known as Burger King India Ltd.
The prominent Quick Service Restaurant (QSR) chain operator firmly denies any speculation regarding its potential acquisition of a majority stake in Restaurant Brands Asia from a private equity firm.
“These are completely false and baseless and the company is not involved in any such discussions or negotiations nor considering the aforesaid acquisition,” said JFL in a late-night regulatory filing.
Earlier reports suggested that Everstone Capital is in discussions with JFL and another party to sell its entire stake in Restaurant Brands Asia.
As the second-largest fast-food burger chain, it established its initial restaurant in India in 2014.
As of March 31, 2023, the company had a network of 391 Burger King and BK Cafe restaurants in operation.
Restaurant Brands Asia recently announced its financial results for the quarter and fiscal year ending on March 31, 2023.
In FY23, Restaurant Brands Asia experienced a widened net loss of INR 241.80 crore, while its revenue from operations reached INR 2,054.27 crore.
In the March quarter, it incurred a loss of INR 79.95 crore.
JFL is India’s largest food service company and is a part of the Jubilant Bhartia Group.
The company possesses the master franchise rights for three international brands: Domino’s Pizza, Dunkin’ Donuts, and Popeyes.