Burger King sells Canadian subsidiary
April 23, 2013
by Meat&Poultry Staff
MIAMI – Burger King Worldwide has sold its Canadian subsidiary, Burger King Restaurants of Canada, including 94 company-owned restaurants to Redberry Investments Corp., a privately owned company. The deal makes Redberry the brand’s master franchisee in Canada.
As part of the agreement, Redberry will implement a new restaurant opening program and an aggressive restaurant remodel strategy, which includes re-imaging its restaurants to the company‘s global 20/20 design in the next three years.
“We believe there is tremendous opportunity to grow the Burger King brand in Canada,” said Steve Wiborg, chairman of North America, Burger King Worldwide Inc. “I look forward to working with our master franchisee as they help expand our footprint across the country by delivering superior products and a positive guest experience in an inviting dining environment.”
Redberry is privately owned and operated by Robert Laverdure, Andreas Kragaris and Christian LeBrun. Based in Quebec, the company will have offices in Montreal, Toronto, Calgary and Detroit and more than 6,000 corporate employees.
“We are very excited to increase our portfolio with the Burger King brand,” Kragaris said. “With new brand initiatives, including new product lines, we look forward to playing a key role in the ongoing success of the brand in the region.”