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Bridgepoint Group, Burger King's master franchisee in the U.K., is in advanced talks with Restaurant Brands International (RBI) over a revised master franchise agreement. A finalized deal may alter annual restaurant opening targets amidst signs of recent strong sales against competitors.
Once the new deal is done, it will reduce the number of restaurants Bridgepoint must open each year as a master franchisee. According to Sky News, Bridgepoint, the British private investment company listed on the London Stock Exchange, is close to securing a long-term agreement with Restaurant Brands International, the owner of Burger King headquartered in the United States.
Business insiders said that in the new master franchise agreement (MFA) expected to be in effect until 2034, Bridgepoint must open at least 20 Burger King restaurants per year. Over time, the number could increase to about 40.
Since the negotiation is almost complete, Bridgepoint and RBI will likely announce it soon. In any case, before the talks between the companies, it was said that the Burger King UK master franchisee expressed follows talks between Bridgepoint and RBI in which the private equity firm is said to have expressed regret over the fact that it is seeing slow financial returns amid high costs brought about by the inflation.
In fact, in 2021, Bridgepoint considered selling its Burger King franchise in the U.K. Apparently, it decided to keep it.
Sources shared that its sales in the country today are growing and have been strong in recent months. It is leading in its category, which means it was able to beat its rivals, and Bridgepoint is now confident it can keep this trend.
About 600 Burger King stores in the U.K., Bridgepoint operates 290 locations, and other franchisees own the rest. The new master franchise agreement may open the way for the business's eventual sale despite the recent profit increase.
Photo by: Pablo de la Fuente/Unsplash
