Burger King sells German subsidiary
May 3, 2013
by Meat&Poultry Staff
MIAMI and MUNICH, Germany – Burger King Worldwide Inc. sold its wholly owned subsidiary Burger King GmbH and its 91 company owned restaurants in Germany to Yi-Ko Holding GmbH.
As part of the deal, Yi-Ko Holding GmbH agreed to develop new Burger King restaurants during the next five years and remodel an additional 57 restaurants during the next 18 months. Ergün Yildiz and Alexander Kolobov own and operate Yi-Ko Holding GmbH.
“Germany is our biggest market outside of the US and we believe that this country still offers significant potential for the Burger King brand,” said José Cil, president, EMEA, BKW. “The experience of Ergün Yildiz, a long-standing restaurant operator in Germany with a strong commitment to the brand for more than a decade, and his partnership with Alexander Kolobov are huge assets to accelerate the modernization and growth of the Burger King brand in Germany.”