Advisors appointed for Burger King UK float

15-Nov-2021 - Last updated on 15-Nov-2021 at 10:00 GMT

Burger King UK’s backer Bridgepoint has appointed Bank of America and Investec to advise on the floatation of the fast food giant during the first half of 2022.

According to Sky News, the precise timing and size of the deal have yet to be finalised, but City sources suggested that a flotation was now a likelier outcome than a sale to another private equity firm.

A sale remains possible depending on public market conditions at the time.

It follows rumours last month that the UK master franchise was set to float on the London Stock Exchange for between £500m to £600m.

Commenting on the proposed float last month, Graeme Smith, managing director, hospitality and leisure, AlixPartners, told MCA, BigHospitality's sister site, he thought the move was a sign of strength in the restaurant market, and the opportunities that are there for the taking.

“It is a great story both for the sector but also for private equity making good money from investing in the sector again after the challenges that have been experienced,” he said.

“There are investors looking to get exposure to the hospitality and leisure sector as it enjoys the recovery from the pandemic, so valuations are strong.”

Burger King UK holds the master franchise for the UK from New York-listed Restaurant Brands International (RBI). It was bought by Bridgepoint in 2017.

For more on Burger King UK’s proposed float, read the latest analysis by MCA here.