RBI Finds Partner for International Growth

Burger King expects to more than double its footprint in China—from 1,250 to over 4,000—by 2035.

That global growth plan is contingent upon a $350 million investment agreement with CPE, an alternative asset manager based in Asia. The investment, set to close in the first quarter of 2026, also will support the brand’s marketing, menu innovation and operations.

“China remains one of the most exciting long-term opportunities for Burger King globally. Our recent investments and this joint venture underscore our confidence in the Chinese market,” says Joshua Kobza, CEO of RBI. “CPE is a well-capitalized, proven operator with exceptional leadership and extensive consumer and restaurant experience, making them an ideal partner to fuel the next chapter of Burger King China’s growth. Together, we can unlock the business’s full potential by combining our iconic brand and global scale with CPE’s local market and operational expertise.”

Following completion of the transaction, CPE will own approximately 83% of the business and RBI will hold a minority ownership position (about 17%), plus a seat on the board of directors.

In Other News

Starbucks, too, has plans for China, having recently announced an agreement to form a joint venture with Boyu Capital. That deal is set to grow Starbucks into new cities and regions across China.

The business will continue to be headquartered in Shanghai, and it will own and operate the 8,000 Starbucks coffeehouses across the market today with a shared vision to grow to as many as 20,000 locations over time, the press release notes.

That agreement is expected to be finalized in Q2 of fiscal year 2026.