The transaction was completed after the mandatory open offer, receipt of required regulatory approvals and fulfilment of customary closing conditions, in line with applicable regulations. With a total investment of Rs 2,235 crore, the deal is among the largest transactions in India’s QSR sector. Following the acquisition, Inspira Global now holds a 41.78% stake in Restaurant Brands Asia.

The company said that if all warrants are exercised, Inspira Global’s shareholding will increase to 48.04% through an additional investment of Rs 450 crore. The board has also approved the appointment of Madhusudan Agrawal as Chairman and Aayush Agrawal as a non-executive director.

Following the completion of the transaction, Restaurant Brands Asia will continue to operate the Burger King and Popeyes brands under its existing master franchise and development agreements with Restaurant Brands International Inc. These agreements for Burger King in India and Indonesia have recently been extended until 2050, supporting the company’s long-term growth plans in both markets.

Madhusudan Agrawal, Chairman, Restaurant Brands Asia Limited, said, “Today marks the beginning of an exciting new chapter for Restaurant Brands Asia. We are inheriting a business built on strong brands, exceptional people and sound operating fundamentals. Our role is not to change what has made the business successful, but to strengthen it with patient capital, disciplined governance and a long-term perspective. We are committed to working closely with the existing leadership team to build on this strong foundation and create enduring value for our shareholders, employees, franchise partners and customers.”

Aayush Agrawal, Director, Restaurant Brands Asia Limited, shared, “This acquisition reflects our conviction in India’s long-term consumption story and our belief that enduring businesses are built through operational excellence, customer obsession and disciplined execution. We have tremendous respect for what the existing leadership team has built and look forward to working together to accelerate the next phase of growth to build one of the most admired food service businesses in the region.”

The company said the fresh capital and new leadership will support its plans to expand its restaurant network, improve customer experience, invest in technology and digital capabilities, strengthen operations and create long-term value for all stakeholders.

The post Inspira Global Completes Acquisition of Burger King Operator in India in Rs 2,235 Crore Deal appeared first on Business of Food.

The transaction will be executed inter-alia through Lenexis Foodworks Private Limited, Inspira Global’s food and beverage arm that has over a decade of experience in the Quick Service Restaurants (QSR) space, owning and operating 250+ Chinese Wok restaurants across 45+ cities in India. In addition to
acquiring the entire 11.26% shareholding of QSR Asia Pte. Ltd. for ~Rs. 460 crore, Inspira Global proposes to infuse ~Rs. 900 crore through a preferential allotment of equity shares and ~Rs. 600 crore through the preferential allotment of warrants. These transactions will trigger an open offer to public shareholders of RBA. The proposed transaction is subject to the fulfilment of customary conditions precedent, including the receipt of applicable shareholders’ and regulatory approvals, including from the Competition Commission of India, and will be in accordance with the SEBI Takeover Regulations.

Speaking about this development, Rajeev Varman, Whole-time Director and Group Chief Executive Officer, Restaurant Brands Asia, remarked, “We are excited to welcome Aayush Agrawal and Inspira Global as our new promoter. With their strong track record of value creation in India, long-term capital support, and strategic alignment, we believe this will enable us to continue our strong growth journey. RBA will continue to operate with its existing leadership team, operational structure, and brand identity fully intact as we remain firmly focused on executing our growth plans.”

Commenting on the development, Aayush Madhusudan Agrawal, Inspira Global, said, “We have significant admiration for the work done by the RBA team in building the business so far. We see this acquisition as a long-term value creation initiative through focused, sustainable growth and realizing the true potential offered by the market. We will continue to build and grow this business, in

line with the vision of RBA, and are excited to work together with the existing management team. The investment strengthens Inspira Global’s focus on consumer businesses and deepens our presence in the high-growth QSR segment, aligned with our emphasis on brand stewardship, operational excellence, and disciplined capital deployment.”

Rafael Odorizzi, President Asia-Pacific, Restaurant Brands International, the owner of the Burger King and Popeyes brands, added, “We are pleased with Inspira Global’s commitment to making a significant investment in RBA and look forward to working with them as long-term partners. Building on the solid operational foundation established by the existing management team, we believe this partnership can take the business to new heights.”

Reflecting on the journey of building Burger King in India since its inception, Sameer Sain, Co-Founder & Group CEO, Everstone Group, said, “We opened India’s first Burger King 12 years ago with a distinctive menu, an exceptional management team, and the ambition to build a marquee QSR brand. Today, with over 575 outlets, those foundations remain firmly in place, and the business is well positioned for its next phase of growth. As Everstone’s journey concludes, we pass the baton to an exceptional new promoter, who is demonstrating deep commitment to the business and a clear, long-term vision.”

The transaction was advised by Bathiya Advisors and Motilal Oswal Investment Advisors Limited is manager to the open offer.

The post Restaurant Brands Asia, Burger King operator to be acquired by Aayush Madhusudan Agrawal’s Inspira Global appeared first on Business of Food.