Everstone plans to fully divest its 11.26% stake in Restaurant Brands Asia, introducing a new strategic investor linked to the founders of Ajanta Pharma.

Information on the Target

Restaurant Brands Asia serves as the master franchisee of Burger King in India and Indonesia. Currently, it holds a significant market capitalization of approximately US$437 million as per Refinitiv data. Everstone Capital, through its vehicle QSR Asia Pte Ltd, is divesting its ownership of an 11.26% stake in the company, with the estimated value of this stake around US$57 million. The company's performance highlights its role in the rapidly evolving fast-food sector in these two populous countries.

As a publicly traded company, Restaurant Brands Asia has been instrumental in expanding Burger King's footprint in India and Indonesia, catering to a growing demand for fast-casual dining options. Its strategic positioning in these markets enables it to tap into a broad consumer base, thereby enhancing its growth prospects in the competitive restaurant industry.

Industry Overview

The fast-food industry in India has witnessed significant growth over the past few years, largely driven by urbanization, changing lifestyles, and an expanding middle class eager for quick-service restaurant options. As of 2023, the market is projected to continue it