Consumer
Burger King Owner Sells Majority of China Unit to Speed Growth
A Burger King restaurant in a mall in Beijing.
Photographer: Wang Zhao/AFP/Getty Images
Restaurant Brands International Inc. agreed to sell a majority stake in the China unit of its Burger King chain, part of a plan to ignite growth there.
The Burger King owner entered a joint venture with CPE, an Asia-based asset manager. CPE will invest $350 million in the entity to boost Burger King locations there to more than 4,000 by 2035 — up from 1,250.