The proprietor of Burger King’s fundamental UK operation is opening talks with lenders a few main refinancing almost eight years after shopping for the enterprise.
Sky Information has learnt that Burger King UK, which is backed by the personal fairness agency Bridgepoint, is searching for a further £40m of borrowing capability to assist finance the supply of its marketing strategy.
The refinancing, which additionally consists of £110m of present debt, is to be mentioned with potential lenders within the coming days.
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Burger King UK owns simply over half of the chain’s almost 600 British retailers, with the remaining owned by different franchisees.
Bridgepoint has already dedicated £35m of contemporary fairness as a part of Burger King UK’s marketing strategy.
The corporate intends to open greater than 30 extra eating places and rework 50 of the present property.
Folks near the corporate stated it was outperforming the broader Fast-Service Restaurant market when it comes to like-for-like gross sales progress.
Burger King’s Gourmand Kings vary has pushed gross sales progress in higher-margin merchandise, whereas its worth platform has additionally been rising amongst price-conscious shoppers, the folks stated.
The chain lately ran a promotion known as Whopper Day to offer away a free burger to prospects who had downloaded the Burger King app.
DC Advisory, the funding financial institution, is working with Bridgepoint and Burger King UK on the refinancing.
The corporate has been linked with a sale or inventory market itemizing prior to now, though an exit for Bridgepoint just isn’t regarded as imminent.
Spokespeople for Bridgepoint and Burger King UK declined to touch upon the refinancing.
