Burger King Worldwide Continues Global Expansion
October 24, 2012
Miami-based Burger King Worldwide announced an exclusive restaurant development agreement with Fondo Escala Capital and Promotora to further develop the Burger King brand in Colombia by more than 100 new points of sale within the next five years. As part of the transaction, Fondo Escala Capital and Promotora have agreed to acquire a majority stake in Kinco S.A.S., currently a franchisee of Burger King Worldwide. "Colombia’s economy is thriving, and we believe this is a valuable market in our strategic mission to expand our footprint in the Latin America and Caribbean region,” said Jose Tomas, president, Latin America and Caribbean, Burger King Worldwide. Burger King Worldwide entered Colombia in 2008, and currently has a presence in 29 countries across the Latin American and Caribbean region with 1,250 restaurants.