Burger King positioning for growth in Egypt
March 29, 2007
by FoodBusinessNews.net Staff
MIAMI — Burger King Europe GmbH, a subsidiary of Burger King Corp., has signed a development agreement with Hana International Company Ltd. for exclusive rights to develop Burger King in Egypt and north African countries.
Hana International is a subsidiary of Olayan Financing Co., and Olayan has formed an agreement with the Kuwaiti Al-Shaya group to help accelerate the growth of Burger King in the region. Several restaurant openings are scheduled in 2007, and there are plans for a large expansion program in the next five years.
Olayan already manages more than 180 Burger King restaurants in the Middle East through Hana International.
"Olayan has a proven track record of delivering strong results in international brand expansion programs and we look forward to driving our growth with them," said Peter Robinson, president, Burger King Europe GmbH. "We are especially pleased to announce our expansion to Egypt, one of north Africa's most important economies."