Clifford Chance advised Restaurant Brands Iberia as 158 Burger King Outlets Acquired in Spain, Portugal
Clifford Chance advised Restaurant Brands Iberia as 158 Burger King Outlets Acquired in Spain, Portugal
Clifford Chance is currently advising Restaurant Brands Iberia on a €260 million deal to acquire 158 Burger King restaurants in Portugal and Spain. It is one of Spain's largest restaurant operator and holds master franchise rights for the Burger King brand in Spain, Portugal, Gibraltar and Andorra, as well as the Popeyes.
Tim Hortons brands in Spain, has agreed to acquire 121 Burger King restaurants in Portugal and 37 in Spain from Ibersol, a Portuguese multi-brand group in the foodservice industry. .
Clifford Chance Madrid partner Samir Azzouzi led the team that advised Restaurant Brands Iberia on the deal. Azzouzi previously led the firm's team in advising private equity firm Cinven in a €1 billion deal for a majority stake in Restaurant Brands Iberia last year.
After this deal, the number of restaurants owned by Restaurant Brands Iberia will increase to 775 (722 of which are Burger King restaurants) and add 4,000 new employees to its network. The largest restaurant operator in Spain will operate 90% of Burger King restaurants in Portugal and 65% of Burger King restaurants in Spain.
