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Mon 25th Apr 2022 - Burger King eyes additional 200 UK restaurants as it plots £600m London float
Burger King eyes additional 200 UK restaurants as it plots £600m London float, full-year revenue jumps 68%: Burger King is eyeing an additional 200 restaurants in the UK over the next four years, after “significant under-penetration” in the country’s market. The company, which has been eyeing a London float since last year, said its adjusted Ebitda almost tripled to £49.5m. In results for the year ended 31 December 2021, the company said its total revenue had jumped 68% to £211.7m, “surging well ahead of pre-covid levels”. Private equity firm owner Bridgepoint has been reported to have hired advisers with the aim of a £600m London listing during the first half of 2022. Earlier this year, Sky News reported a public listing was “a likelier outcome” than a sale to another private equity bidder. The UK continued to “present clear platform for growth,” with “good visibility” on a pipeline of new openings, the company said on Monday (25 April). Some 48 new owned restaurants were opened in 2021, including 19 new restaurant openings and the acquisition of 29 sub-franchised restaurants. These openings included a flagship Leicester Square site. The company also said it plans to continue to roll out its meat-free range, after vegan and vegetarian options have seen growing popularity in recent years. The business managed covid 19 headwinds in 2021 through “investment in digital sales including home delivery, and continued restaurant expansion with a focus on drive-thru,” Alasdair Murdoch, chief executive of Burger King UK, said. He added: “We have a strong development pipeline to further grow our UK footprint, and we are very well positioned to take advantage of the clear market opportunities ahead of us.” Burger King operates more than 500 restaurants in the UK and last month opened ten sites in the space of ten days. Burger King UK features in Propel’s new UK Food and Beverage Franchisor Database, which is exclusively available to Premium subscribers. The database is an exhaustive guide to the companies offering a food and beverage franchise in the UK and will be updated every two months. The first edition features 100 companies, providing insight on the offer, locations, cost and other key details. The first edition provides more than 27,000 words of content. Companies can now have an unlimited number of people receive access to Propel Premium for a year for £895 plus VAT – whether they are an operator or a supplier. The single subscription rate is £445 plus VAT for operators and £545 plus VAT for suppliers. Email to upgrade your subscription

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