RBI and CPE Launch New Joint Venture to Boost Burger King's Presence in China

Major Expansion for Burger King in China: A New Joint Venture

On February 2, 2026, Restaurant Brands International Inc. (RBI), the parent company of the globally recognized Burger King brand, announced a pivotal joint venture with CPE that is expected to significantly propel Burger King’s growth in China. This partnership is designed to expand the brand's restaurant footprint in the country, with ambitious plans to increase the number of outlets from approximately 1,250 to over 4,000 by 2035.

Investment and Ownership Structure

CPE invested a substantial $350 million as part of this joint venture, which has resulted in CPE owning 83% of the business, while RBI retains a 17% minority interest. Additionally, RBI will have a seat on the Board of Directors, ensuring that they play an integral role in the operational strategy of Burger King China. This arrangement combines CPE’s local market expertise with Burger King's internationally recognized brand to create a robust platform for growth.

Goals and Strategic Focus

The union aims to not only increase the number of restaurants but also to ensure sustainable growth at established locations. RBI’s CEO, Josh Kobza, emphasized the importance of China in Burger King’s global expansion strategy. He stated that by focusing on food quality and operational excellence, the brand is poised to create a sustainable business model that resonates well with the Chinese market.

Moreover, a master development agreement has been signed, granting CPE exclusive rights to develop the Burger King brand across China for the next 20 years. This long-term strategy is indicative of a commitment to growing the brand thoroughly and responsibly within one of the world’s largest quick-service restaurant markets.

The Market Potential in China

The joint venture is a strategic move to capitalize on the rapidly growing fast-food industry in China. With an increasing appetite for international brands among Chinese consumers, the potential for expansion is colossal. The plan for more than 4,000 locations signifies a robust strategy to capture this growing demand while also enhancing the customer experience through improved product offerings and restaurant innovations.

About the Partnership Firms

Restaurant Brands International Inc.

RBI is one of the largest quick service restaurant companies globally, generating over $45 billion in annual system-wide sales and operating more than 32,000 restaurants spanning 120 countries. The company owns renowned brands such as TIM HORTONS®, BURGER KING®, POPEYES®, and FIREHOUSE SUBS®, each contributing to its expansive market share and high-profile presence in the global food industry.

CPE

CPE is an Asia-based alternative asset manager with around $22 billion in assets under management. Operating from key financial markets like Beijing, Shanghai, and New York, CPE implements a long-term investment strategy focusing on innovative solutions across multiple sectors, including technology, healthcare, and consumer goods. Their extensive experience and network will substantially bolster the development of the Burger King brand in the region.

Conclusion

As the joint venture marks a significant milestone for both RBI and CPE, it is not just a commitment to growing Burger King's operational footprint in China, but also an investment in the quality of the brand's offerings. With a clear strategy firmly in place, Burger King is set to not only expand its restaurants in China but is also focused on elevating the guest experience to ensure ongoing relevance and success in this dynamic market.