Global quick-service operator Restaurant Brands International (RBI), owner of Burger King, has agreed to a major joint venture with Chinese investment firm CPE Holdings, signalling a strong push to accelerate expansion in the Chinese market. Under the terms of the deal, CPE will inject about US $350 million into the venture, acquiring roughly 83% of what will become the new Burger King China entity, with RBI retaining 17% and a board seat.
Presently operating around 1,250 outlets in China, Burger King aims to take this footprint to more than 4,000 restaurants by 2035 through the joint arrangement. The transaction is targeted to close in the first quarter of 2026, subject to regulatory approvals.
“China remains one of the most exciting long-term opportunities for Burger King globally. Our recent investments and this joint venture underscore our confidence in the Chinese market,” said Joshua Kobza to PR Newswire, CEO of RBI.
Mark Mao, Managing Director of CPE said, “Burger King is a world-renowned brand with enduring appeal among Chinese consumers,” Our investment reflects our confidence in Burger King’s long-term potential in China. Leveraging our commitment and deep understanding of the Chinese consumer, we aim to bring Burger King’s flame-grilled burgers to even more guests across the country.”
Burger King’s joint venture deal signals that global QSR expansion is entering a new phase, one that is less about opening many stores in a short burst and more about building sustainable growth via local capability and strategic alignment. The fact that a US-centric burger brand is applying a deeply localised partnership model in China is a reminder that global growth now demands global-local thinking.
