Chinese private equity firm CPE plans to invest $350 million for an 83% stake in a joint venture that will control Burger King’s operations in China, marking a major strategic pivot by the fast-food brand to revive its performance in the competitive Chinese market, reports Caixin. Restaurant Brands International Inc. (RBI), the Canadian owner of Burger King, will retain a 17% stake in the newly formed venture, which has exclusive rights to the brand in China for 20 years. The transaction, which values the business at nearly $421 million, is expected to close in the first quarter of 2026.
CPE is a homegrown asset manager with more than RMB 150 billion ($21 billion) in assets under management. It has invested about RMB 10 billion in the consumer services sector, with a portfolio that includes tea and beverage chain Mixue Bingcheng, jewelry brand Lao Pu Gold, and toymaker Pop Mart.
The funds will support Burger King’s future expansion plans in China, including increasing store count from roughly 1,250 to more than 4,000 by 2035. Investment will also flow into marketing, menu innovation and operational upgrades, CPE announced on Monday.