TAB Gida, the national representative and master franchisee of Burger King, Popeyes, Sbarro and Arby’s, has sold a small part of its shares to Cartesian Capital Group, a global private equity firm, according to a written statement from TAB Gida published Wednesday.
The Kurdoglu and Üründül families, who held full shares of TAB Gida, established a strong global company in Turkey, said Erhan Kurdoglu, deputy chairman of TAB Gida. “We’ve known Cartesian Capital Group for more than 10 years and we are well pleased with this partnership established. I believe that Cartesian will bring the strategic information and perspective that will help our company to grow faster and to open up the global markets.”
“We will work together to straighten the leading position of TAB in Turkey and in the region,” said Peter Yu, managing partner of Cartesian. “This investment is an important example of our target to create global leaders.”
TAB Gida is the leading restaurant chain in Eastern Europe, the Middle East and North Africa, with a turnover expected to reach nearly 1 billion Turkish Liras this year, the statement read.
“TAB Gida, the biggest franchisee of Burger King, is a crucial business partner of our organization,” Jose Cil, head of Burger King’s Europe, Middle East and Africa region.
The company, which operates more than 500 restaurants in Turkey, has at least one restaurant in 53 provinces.
Source: Hürriyet Daily News – ISTANBUL
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