Burger King UK’s owners court investors ahead of £600m float
Burger King UK’s private equity owners have begun a charm offensive with investors as they look to build support to float the firm’s UK division in the first half of this year.
Bridgepoint are understood to have hired Peel Hunt as well as Bank of America and Investec to advise it on a potential IPO, The Times reported.
A city source told The Times that Bridgepoint has now kicked off marketing the IPO to investors.
The British private equity firm, which owns about 75 per cent of the the firm, is said to favour a listing for the firm rather than another buyout and is expected to float the firm on the London Stock Exchange for around £600m.
Burger King UK holds the franchise for the UK from the New York listed hospitality giant Restaurant Brands International.
Bridgepoint has owned the franchise since 2017 and today operates around 530 sites across the UK, about 400 of which are owned by franchisees.
The IPO plans come on the back of strong growth for the group, with turnover at the chain now about £520m.