Business

Life after Pret: Bridgepoint signs deal to help grow Burger King in France

Private equity firm Bridgepoint has wasted no time getting back in the food business after 10 years of owning Pret a Manger came to an end this month.

After it bought out the Burger King UK franchise last year, Bridgepoint has today announced an agreement with the fast food chain's franchisee in France.

The partnership with Groupe Bertrand will see Bridgepoint acquire a minority stake in the company, and help with the roll-out of the brand.

Burger King is the second-biggest burger chain in France, operating 450 sites. It acquired rival brand Groupe Quick in 2015, and is in the process of converting them to Burger Kings.

Read more: Burger King Russia apologises for sexist World Cup promotion

“The teams and I are very enthusiastic about the prospect of sharing this new stage in Burger Kings development in France with our new partners, Bridgepoint," said Olivier Bertrand, chairman of Groupe Bertrand.

"They have considerable experience through their many investments, including in global food businesses. This high quality partnership to accompany our strong development offers a real opportunity.”

Bridgepoint exited one of its other major food investments earlier this month, selling Pret a Manger to JAB Holdings for an undisclosed amount thought to be in the region of £1.5bn.

Read more: UK private equity exits fall by more than 50 per cent in first half of 2018

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