The company has entered into an agreement with Cartesian and members of the Kurdoglu family, a long-time Burger King master franchisee, to finance plans to open a thousand restaurants in the country over the next five to seven years.
The deal represents the largest multi-unit development agreement in the brand’s history and will make the Kurdoglu family the system’s largest franchisee globally.
The Kurdoglu family, which was advised by Ata Invest, Istanbul, operates TAB Gida, currently the Burger King system’s largest franchisee internationally. The firm has grown the brand in Turkey from just one restaurant to more than 450.
The new venture has signed a long-term master franchise and development agreement with Burger King Worldwide (BKW) and has obtained the exclusive rights to expand the brand in China, where there are currently 63 Burger King restaurants.
Earlier this month BKW announced a joint venture in Russia to rapidly expand the brand’s presence in the market with several hundred restaurants expected to open in the next several years.
Last July BKW also announced plans to open several hundred restaurants in Brazil.
Copyright © 2012 AltAssets
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