Everstone Capital to exit Burger King India parent Restaurant Brands Asia

QSR Asia exits Restaurant Brands Asia, selling 11.26% stake to Inspira Global; Rs 1,960 crore infusion planned via equity and warrants

QSR Asia (majority owned by Everstone Capital) has entered into a definitive agreement with Inspira Global to sell its entire stake in Restaurant Brands Asia (RBA), the operator of Burger King in India and Burger King and Popeyes in Indonesia, it said in a release on Tuesday.

 

The transaction will be executed through Lenexis Foodworks Pvt. Ltd., Inspira Global’s food and beverage arm, which will acquire the entire 11.26 per cent stake in QSR Asia for around Rs 460 crore. Inspira Global also proposes to infuse around Rs 900 crore through a preferential allotment of equity shares and approximately Rs 600 crore through a preferential allotment of warrants.

 

 

“These transactions will trigger an open offer to public shareholders of RBA. The proposed transaction is subject to the fulfilment of customary conditions precedent, including the receipt of applicable shareholder and regulatory approvals, including from the Competition Commission of India, and will be in accordance with the SEBI Takeover Regulations,” the release said.

 

With this transaction, QSR Asia completely exits Restaurant Brands Asia in line with its planned investment lifecycle.

 

Rajeev Varman, whole-time director and group chief executive officer, Restaurant Brands Asia, said in the release, “We are excited to welcome Aayush Agrawal and Inspira Global as our new promoter. With their strong track record of value creation in India, long-term capital support, and strategic alignment, we believe this will enable us to continue our strong growth journey. RBA will continue to operate with its existing leadership team, operational structure, and brand identity fully intact, as we remain firmly focused on executing our growth plans.”

 

The transaction was advised by Bathiya Advisors, and Motilal Oswal Investment Advisors Limited is the manager to the open offer.

 

Lenexis Foodworks, the food and beverage arm of Inspira Global, has over a decade of experience in the QSR space, owning and operating over 250 Chinese Wok restaurants across over 45 cities in India.

 

Aayush Madhusudan Agrawal of Inspira Global said, “We have significant admiration for the work done by the RBA team in building the business so far. We see this acquisition as a long-term value creation initiative through focused, sustainable growth and realising the true potential offered by the market. We will continue to build and grow this business, in line with the vision of RBA, and are excited to work together with the existing management team. The investment strengthens Inspira Global’s focus on consumer businesses and deepens our presence in the high-growth QSR segment, aligned with our emphasis on brand stewardship, operational excellence, and disciplined capital deployment.”

 

Sameer Sain, co-founder and group chief executive officer, Everstone Group, also said in the release, “We opened India’s first Burger King 12 years ago with a distinctive menu, an exceptional management team, and the ambition to build a marquee QSR brand. Today, with over 575 outlets, those foundations remain firmly in place, and the business is well positioned for its next phase of growth. As Everstone’s journey concludes, we pass the baton to an exceptional new promoter, who is demonstrating deep commitment to the business and a clear, long-term vision.”