Restaurant Brands Asia (RBA), the operator of Burger King in India and Burger King and Popeyes in Indonesia, is undergoing a change in control with a proposed deal with Inspira Global. The company, along with its current promoter QSR Asia, majority owned by Everstone Capital, has signed definitive agreements for Inspira Global to acquire a controlling stake in RBA.
Under the proposed structure, Inspira Global will purchase QSR Asia’s entire 11.26% stake in RBA for Rs4.6bn ($50.3m). The completion of the deal is subject to customary and regulatory conditions. Once finalized, this transaction will lead to the complete exit of QSR Asia in line with its planned investment cycle.
Inspira Global will be executing the deal primarily through Lenexis Foodworks, its food and beverage subsidiary. Lenexis has a strong presence in the quick-service restaurant (QSR) segment with over 250 Chinese Wok outlets operating across more than 45 Indian cities.
Founder and managing director of Inspira Global, Aayush Madhusudan Agrawal, expressed admiration for RBA’s achievements in building the business. He views this acquisition as a long-term value creation initiative aimed at sustainable growth and maximizing the market’s potential. The company plans to work closely with the existing management team to continue building and expanding the business.
In addition to the stake acquisition, Inspira Global intends to inject fresh capital into RBA through a preferential allotment of equity shares and warrants. This move will trigger a mandatory open offer to RBA’s public shareholders under Indian securities regulations.
Rajeev Varman, whole-time director and group CEO of Restaurant Brands Asia, welcomed Aayush Agrawal and Inspira Global as the new promoters. He assured that RBA will maintain its current leadership team, operational structure, and brand identity, staying focused on executing its growth strategies.
This development in the QSR industry comes on the heels of a recent merger agreement between Devyani International and Sapphire Foods, both operating KFC and Pizza Hut franchises in India. The merger will create one of the largest QSR chains in the country by combining two Yum! Brands franchisees.
The article “Inspira Global to acquire controlling stake in RBA” was originally published by Verdict Food Service. The information provided is for general informational purposes only, and professional advice should be sought before making any decisions based on the content.
Overall, the deal between RBA and Inspira Global signifies a significant shift in control and strategic direction for the company, paving the way for future growth and expansion in the competitive QSR market.
