Rancak Selera, a part of Malaysia-based Ekuiti Nasional Berhad (Ekuinas), will acquire a 100 per cent stake in Burger King Singapore.

As part of the transaction, Miami-based Burger King and Rancak Selera have entered into master franchise and development agreements to further develop the brand in both Malaysia and Singapore over the next 20 years.

In September 2011, Ekuinas took in a 74.1 per cent stake in Burger King Malaysia. The company currently owns and operates 32 Burger King outlets in Malaysia since opening its first restaurant in 1997.

Burger King Singapore, founded in 1982, currently has 41 outlets. 

“The investment in Burger King Singapore provides another significant addition to Ekuinas F&B group and further impetus in our strategy to establish a large and diversified F&B group with a strong regional presence,” said Ekuiti Nasional Berhad chairman Raja Tan Sri Dato’ Seri Arshad Raja Tun Uda.

The acquisition also underlines the company’s mandate to grow portfolio companies regionally, in line with the Malaysian government’s aspiration for more Malaysian companies to expand internationally.

The investment in Burger King Singapore will strengthen Ekuinas’ presence there through Revenue Valley Group which already operates 19 Manhattan Fish Market and Popeyes outlets in the country, according to Ekuinas CEO Dato’ Abdul Rahman Ahmad.

It is estimated that the size of the Singapore F&B market is currently S$9.01 billion (RM22.6 billion or US$7.38 billion). Out of this, the QSR segment is estimated to represent 18 per cent of this market.

GB