Fast food giant Burger King Holdings has held fresh discussions with Everstone Capital to revive its India entry plans. The world’s second-largest burger chain behind McDonald’s could firm up its India strategy later this year as it makes a big push into three Asian markets, including China and Indonesia, they added.
Everstone Capital, among the biggest India-focused private equity houses, has held talks with Burger King, but the latter has not taken a final call on its India plans yet. The NYSE-listed burger chain is exploring a franchisee model in sync with its operations globally.
Burger King, operating more than 22,000 outlets across the world, wants a fairly big entry into the market with the potential partner having to commit up to $100 million, as mentioned in reports. “There is a huge opportunity for brands like Wendy’s and Burger King, considering nobody has dominance of the burger market here. It’s still a lucrative market if you find the right partner and localize your business,” said Arvind Singhal, chairman of Technopak Advisors, a retail consultancy firm.