Cinven Buys €1B Stake In Iberian Burger King Business

By Benjamin Horney (July 28, 2021, 2:46 PM EDT) -- Clifford Chance-advised Cinven will take a majority stake in the Iberian business of Burger King parent Restaurant Brands International Inc., in a deal that's valued at over €1 billion ($1.18 billion) and represents the largest ever transaction in the Spanish restaurant industry, the companies said Wednesday.

In acquiring a majority stake in Restaurant Brands Iberia, U.K.-based Cinven picks up control of a business that was founded in 1981 and operates Burger King, Popeyes and Tim Hortons restaurants throughout Europe, according to a statement. More specifically, RB Iberia is the "master franchisee" for the Burger King brand in Spain, Portugal, Gibraltar and...

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