Fast food chain Burger King is reported in talks with Indian investment company Everstone Capital over possible entry to India.
While both companies declined to comment on the report, a spokesperson from Burger King said the company is strategically looking for future growth across various countries including India.
“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,” said Burger King spokesperson Miguel Piedra.
Everstone Capital controls Blue Foods, a restaurant company which represents chains including Gelato Italiano, The Coffee Bean & Tea Leaf and Spaghetti Kitchen.
Burger King talked with DLF and Future Group some years ago to enter India, however they lapsed without outcome.
The chain is not alone in scouting for a local partner. Fast food chain Wendy’s and smoothie chain Jamba Juice of the US, noodle chain Wagamama and dim sum chain Ping Pong of the UK are also reportedly seeking partners for possible entry.
Arvind Singhal of Technopak Advisors said India is a lucrative market for burger chains like Burger King and Wendy’s as the market has no dominant player yet.
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