Restaurant Brands International Inc.(QSR,QSR.TO), a Canadian fast food holding company, on Monday announced a joint venture with CPE, a Chinese alternative asset manager, to support the next phase of growth of its Burger King business in China.
Under the terms, CPE will invest $350 million of new primary capital into the joint venture to support restaurant expansion, marketing, menu innovation, and others. The transaction is expected to close in the first quarter of 2026.
Post transaction, the Chinese firm will hold approximately 83% of the business, while Restaurant Brands will own around 17%.
The joint venture will allow Burger King China to double its restaurant count to over 4,000 by 2035 from today's roughly 1,250 restaurants.
The transaction will also help Restaurant Brands' plan to return to a more simplified, highly franchised business, the company said.
Following the transaction, the Canadian company will begin recognizing royalties from the Burger King China business in its International segment.
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