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Burger King Worldwide, Inc. and Alsea, S.A.B. de C.V. Sign New Joint Venture to Significantly Expand Brand Presence in Mexico

Wednesday, 12 Dec 2012 07:30pm EST 

Burger King Worldwide, Inc. announced that it has entered into a joint venture agreement for Mexico with Alsea, S.A.B. de C.V. focused on significantly increasing the BURGER KING brand presence in this important market. As part of the transaction, ALSEA and BKW will contribute their BURGER KING restaurants in Mexico to form a joint venture through a merger of BKW’s Mexican subsidiary into Operadora de Franquicias Alsea S.A. de C.V. (OFA). The new company will own 203 BURGER KING restaurants in Mexico and has committed to open several hundred more over the next several years. As part of the joint venture, OFA will acquire the following rights and obligations: Acquisition of 97 BURGER KING restaurants, bringing ownership count to 203 BK restaurants; Operating control of the BURGER KING brand throughout all of Mexico; Exclusivity in Mexico for 20 years; Collection of royalties from sub-franchisees; An annual development plan that includes the opening of new corporate and sub-franchised BURGER KING restaurants over the next 20 years; and In exchange for a cash payment to BKW, ALSEA will maintain a majority stake in the joint venture, while BKW will maintain the minority stake. 

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