Hong Kong fund planning to sell Burger King biz in Japan, South Korea: reports

Burger King currently has around 150 and 440 outlets in Japan and South Korea, respectively.

Hong Kong-based Affinity Equity Partners is planning to sell its Burger King businesses in Japan and South Korea.

Nikkei first reported that the company will commence bidding and the combined sales price could amount to around 100 billion yen (US$874 million).

A separate report from Reuters, citing “a person with knowledge of the matter”, said the deal could fetch more than US$1 billion.

Burger King currently has around 150 and 440 outlets in Japan and South Korea, respectively.

Affinity Equity Partners bought the fast food chain’s Korean business in 2016 and acquired the Japanese operation in 2017. Nikkei’s sources said potential acquisition candidates include major investment funds, restaurant chains and companies with experience in franchise management.