RBI buys out partners' stakes in Burger King China, seeks new partner to invest

The Burger King logo is displayed on a sign outside a restaurant in downtown Pittsburgh, Jan. 12, 2022. (AP Photo/Gene J. Puskar, File)

TORONTO — Restaurant Brands International Inc. says it has bought its partners' stakes in Burger King China for US$158 million and is seeking a new local partner.

The company says it acquired the interests from TFI Asia Holdings BV (TFI) and Pangaea Two Acquisition Holdings XXIII Ltd. (Cartesian).

RBI says it now owns nearly 100 per cent of the business and is looking for a new local partner to invest in the operations and become the controlling shareholder.

The company says TFI helped Burger King grow in China from around 60 restaurants in 2012 to about 1,500 today and will continue growing its operations in Turkey as one of RBI’s largest business partners.

RBI will also continue to be a partner with Cartesian in growing Tim Hortons in China.

RBI is the parent company of Tim Hortons, Burger King, Popeyes and Firehouse Subs.

This report by The Canadian Press was first published Feb. 18, 2025.