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Burger King to expand in North African markets
Source: BI-ME , Author: BI-ME staff
Posted: Sun April 1, 2007 12:00 am

INTERNATIONAL. Burger King Corp announced today that its subsidiary, Burger King Europe, has signed a development agreement with Hana International Co, a subsidiary of Olayan Financing Company, the Saudi and Middle Eastern arm of the Olayan Group. The agreement gives Hana the exclusive right to develop the Burger King brand in Egypt and other North African countries.

The opening of the first Burger King restaurant will take place during the first half of 2007, at Egypt’s CityStars Mall, Cairo, one of the largest shopping malls in the region. Two further openings are due to follow shortly in Sharm El Sheikh, signalling the beginning of a large expansion programme over the next five years.

To accelerate the development of the brand in new and existing markets, Olayan has signed an agreement with a strategic partner, the Kuwait-based MH Alshaya group, through the formation of a joint venture.

Burger King Corporation signed its first development agreement with Olayan in 1991. Through Hana International, Olayan now operates or services more than 180 Burger King restaurants throughout the Middle East including Saudi Arabia, the UAE, Kuwait, Jordan, Bahrain, Qatar and Lebanon, and is the largest Burger King franchisee in the region. Its highly experienced international management team has helped foster four consecutive years of double-digit growth.

Peter Robinson, President, Burger King Europe, said: “Olayan has a proven track record of delivering strong results in international brand expansion programmes and we look forward to driving our growth with them. We are especially pleased to announce our expansion to Egypt, one of north Africa’s most important economies.”

Olayan Financing Company CEO Lubna Olayan said: “We are excited by this opportunity to expand our agreement with Burger King. Olayan prides itself on having built a world-class franchising organisation for the Middle East, and we look forward to bringing the great flame-grilled taste to a wider market.”

Note: The Burger King system operates more than 11,100 restaurants in 50 US states and in more than 65 countries worldwide. Approximately 90% of Burger King restaurants are owned and operated by independent franchisees, many of which are family-owned operations that have been in business for decades.

Founded in 1947, the Olayan Group is a private, multinational enterprise made up of more than 50 companies and affiliated businesses. In Saudi Arabia, where the group originated, Olayan engages in product distribution, manufacturing, services and investment. Olayan's food services entity, Hana International, is the master Burger King franchisee in the Middle East.

MH Alshaya Co is a franchisee for over 40 of the world’s most recognised retail brands including H&M, Starbucks Coffee, Mothercare, Debenhams, Boots, the Body Shop and Foot Locker. The company operates over 1,200 stores across eight Middle East countries, as well as Cyprus, Turkey, Egypt, Russia and Poland. The company employs more than 14,000 employees from over 35 nationalities.

See also: www.burgerking.com and www.olayan.com

 

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