Fast food chain Burger King is preparing to float on the London Stock Exchange for around £ 600m, according to reports.
Burger King UK is believed to be in advanced discussions with potential advisers, including Investec and Numis bankers, as the company is ready to list next year, according to The Times, which first reported the news.
The restaurant chain, owned by private equity group Bridgepoint, reported sales of £ 117m. In 2020, an increase of £ 16 million. From sales in 2019 despite the pandemic.
The news comes as a number of other leisure sector companies are considering listing, including Mexican food chain Tortilla, which debuted on the junior Aim stock market with a holding of DKK 70 million. Pounds last week.
Burger King UK and Bridgepoint, whose other investments include Hobbycraft and Itsu, are expected to put together their listing plans in the coming week. Companies can also explore the possibility of a sale that, according to The Times, could be worth £ 500 to £ 600 million.
Burger King became part of the Restaurant Brands International (RBI) group, listed in New York, in 2014. Three years later, Bridgepoint bought the master franchise for the UK together with Caspian UK Group – one of the largest Burger King franchises with 74 restaurants.
The majority of Burger King UK’s 530 sites are owned by franchisees, but under Bridgepoint, the restaurant has bought back some of them.
Burger King has been contacted for comment.