Burger King Holdings is in fresh discussions with Everstone Capital in a bid to revive its India entry plans.
Citing “people directly briefed on the matter”, Times of India has reported that the fast-food chain could firm up its India strategy later this year as it plans a push into three Asian markets, including China and Indonesia.
However Burger King still hasn’t made a final call on its India plans with Everstone, one of the biggest India-focused private equity houses. The chain is reportedly exploring a franchisee model in sync with its operations globally.
"In the course of normal business, we continuously review our worldwide restaurant portfolio and make strategic decisions based on many factors including development opportunities, market conditions and restaurant profitability in various countries, including India. However, we do not have any further information to provide at this time regarding the Indian market," Burger King’s Miguel Piedra told Times of India. Everstone Capital declined to comment on the speculation.
Burger King had held discussions with DLF and Kishore Biyani's Future Group to enter the market some years ago. Everstone Capital, founded by two Goldman Sachs bankers Sameer Sain and Atul Kapur, controls Blue Foods, which claims to be India's largest restaurant company with brands like Copper Chimney, Noodle Bar, and The Coffee Bean & Tea Leaf in its portfolio.