Burger King appears set to gobble up burger rival Quick
Paris - AFP
The majority shareholder of Burger King restaurants in France said Monday it was in exclusive talks to buy the 509 outlets of French fast-food rival Quick.
The Bertrand group said it intended to re-brand all of Quick's 384 outlets in mainland France in the deal, which would make Burger King the number two fast-food restaurant after McDonald's.
"In France, Quick restaurants would progressively move under the Burger King banner. The Quick brand would be maintained in Belgium, Luxembourg and outside Europe," the Bertrand group said.
The deal with Quick's owners Qualium Investissement could be finalised by the end of the year providing it gains approval from staff representatives and competition authorities, Bertrand said.
Several European and US investment funds told AFP in June that they were interested in buying Quick.
Qualium, then known as CDC Capital Investissement, bought Quick in 2006 from Belgian billionaire Albert Frere for between 750 million euros and 800 million euros ($837 million and $893 million).
While the traditional ham-and-butter baguette once reigned in France, hamburgers now account for one in four restaurant meals eaten in the land of gastronomy, according to a March report by food marketing group Gira Conseil.