Burger King's parent plans to open 40,000 places in 10 years
Burger King's Parent Restaurant Brands International (RBI) announced plans to open 40,000 restaurants globally over the next eight to ten years, making it one of the world's largest restaurant companies, potentially surpassing McDonald's.
RBI, which owns major brands like Burger King, Tim Hortons and Popeyes, revealed its massive growth plans on its first investor day in New York City on Tuesday, saying it is "well-positioned" to exploit the expected global growth The burger, coffee and chicken markets, which are expected to climb 5 to 6 percent annually.
"RBI is fundamentally a growth company, with three fantastic, iconic brands that we believe have a very long path to growth ̵[ads1]1; both at home and around the world. We have a proven history of generating very strong returns for our shareholders. and today we are happy to share more insight than we have ever before to support our belief that all three brands have significant growth ahead, says Jose Cil, CEO of RBI.
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] RBI currently has more than 28,800 locations globally, but the number of sites remains relative to the biggest competitors McDonalds and Yum Brands, which has 37,971 and nearly 50,000 locations.
Adding 40,000 restaurants, Toronto-based the company potential to exceed McDonalds o g Yum Brands in the years to come.
Last year, the company opened 1300 locations and since the start of the year's share has achieved more than 25 percent, thereby increasing the market value to over $ 30 billion.
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But the value is still a fraction of McDonald's market value, which is currently hovering at $ 151.19 billion.
