Franchise News NEW DELHI: Dabur scion Amit Burman’s Lite Bite Foods and Jubilant Foodworks are close contenders to become master franchisees for the US fast food chain Burger King.
“Lite Bite Foods has held discussions with Burger King for a tie-up but it is not conclusive yet”, a Dabur spokesperson said when contacted.
Ajay Kaul, CEO, Jubilant Foodworks, declined to comment.
Last week, reports indicated that US fast food chain Burger King was eyeing to enter India along with PE major Everstone Capital. The India venture will be headed by Rajeev Varman, the Chief Executive of Burger King in the UK.
Everstone Capital spokespersons also declined to comment on whether it was partnering with the chain for its India venture and planned to invest $100 million.
Sources said the Burger King and Everstone were looking at appointing a master franchisee who has a keen insight on the local tastes and also can negotiate the real estate challenges.
They also indicated that the Burger Chain may possibly zero in on Lite Bites as the company doesn’t have a presence in the Quick Service Restaurants segment. While Jubilant Foodworks is the franchise for Dunkin’ Donuts and Dominos Pizza. Dunkin recently introduced burgers in into its portfolio.
Other brands that have a presence in the burger space include Yum! Restaurants, which has runs the popular KFC chain while Hardcastle Restaurants owns the franchise for McDonald’s for south and western India.
According to National Restaurant Association of India report, the QSR segment in India is estimated at Rs 5,500 crore and is growing at 25 per cent on a CAGR basis.
Founded in 1954, Burger King, famous for its Whopper sandwich, claims to serve more than 11 million patrons around the world every day.
In 2010, 3G Capital, a global multi-million dollar investment firm, purchased Burger King Corporation, making it a privately-held company.
Source : thehindubusinessline