A total of 85% of the shares owned by PT Sari Burger Indonesia, the manager of Burger King Indonesia, are rumored to be acquired by Burger King India Ltd. BK India is already in talks regarding the potential acquisition of the controlling shareholder.
Quoted from CNBC Indonesia, BK India Ltd has signed a non-binding understanding with F&B Asia Venture (Singapore) Pte Ltd, through its subsidiary, Quick Service Restaurant Indoburger Pte Ltd (QSR Indoburger) to buy shares of PT Sari Burger Indonesia.
PT Sari Burger Indonesia is an associate entity of PT Mitra Adiperkasa Tbk (MAPI), the holder of the Burger King brand in Indonesia.
As of June 2021, PT Mitra Adiperkasa Tbk (MAPI) holds a 33.52 percent stake in PT Sari Burger Indonesia. In other words, the remaining shares of PT Sari Burger Indonesia belong to QSR Indoburger.
Burger King India believes that Burger King Indonesia can be a suitable company. This is due to the company’s experience in managing and operating the Burger King brand in India.
“The company recognizes the high growth potential in the Indonesian market and believes that it can be the right partner to push the Burger King brand in Indonesia through the next growth phase,”SAID BURGER KING INDIA LIMITED, QUOTED BY CNBC INDONESIA, THURSDAY (SEPTEMBER 2, 2021).
CNBC Indonesia also reported that BK India and F&B Asia will conduct due diligence to start negotiations on the transaction by appointing relevant advisors and intermediaries.
Burger King Indonesia has also managed 176 outlets in all regions in Indonesia until the middle of the first semester in 2021.