PT Mitra Adiperkasa, Indonesia’s largest upmarket retailer that owns exclusive rights to brands such as Starbucks Corp, plans to sell its rights to Burger King and Domino’s Pizza outlets in Indonesia this year, said Corporate Secretary Fetty Kwartati.
Kwartati added that Mitra is currently finalising due diligence checks with future investors and expects to complete the deal this year. Mitra Adiperkasa owns 47 Burger King outlets and 60 Domino’s Pizza stores in Indonesia.
The firm booked revenues of 2.41 trillion rupiah ($208.21 million) in the first quarter of 2014, with these two brands contributing up to 5 percent. (Kontan)
Note: Reuters has not verified this story and does not vouch for its accuracy. ($1 = 11575 rupiah) (Compiled by Jakarta Newsroom; Editing by Sunil Nair)