Creating this new company is the latest investment by Vinci Partners’ new private equity fund, which has recently made other significant investments in Brazil and does not involve capital expenditures by BKC, which entered Brazil in 2004. There are currently 108 franchise-owned restaurants in that country.
“We believe there is tremendous opportunity to grow the Burger King brand in Brazil,” said Jose Tomas, president, BKC Latin America and Caribbean. “I look forward to working closely with our master franchisee on their development plans and am confident they will drive aggressive growth to rapidly expand our footprint in Brazil.”
Iuri Miranda, general manager for Brazil, is expected to assume the newly created role of chief executive officer of the new company.