Burger King In JV With Everstone Group In India

(RTTNews) - Burger King Worldwide Inc. (BKW) and Everstone Group, a private equity and real estate firm in India and South East Asia, on Tuesday announced the establishment of a joint venture to develop the Burger King brand presence in India.

As part of the terms, the joint venture has signed a long-term master franchise and development agreement which includes sub-franchise rights for all of India.

"After a very thorough process, we chose Everstone as our partner based on its history, business acumen and command of the massive and complex India market," says Elias Diaz Sese, president, BK AsiaPac Pte. Ltd.

Over the next few months, Everstone will work together with BK AsiaPac Pte. Ltd. to set up the supply chain in India and execute a roll-out plan to establish Burger King restaurants across the country.

India, the second most populous nation in the world, is seen by restaurant chains as a key region to tap growth, despite some concerns there about the economy slowing.