TORONTO – A private Quebec-based company is acquiring 32 Burger King locations in Ontario from the current franchise holder, expanding on a deal announced in April.
Redberry Investments Inc. says the additional restaurants will bring the total number of Burger Kings in its network to nearly 300.
Redberry acquired Burger King Restaurants of Canada in April from Burger King Worldwide. Financial terms of that deal weren’t disclosed.
The April deal included 94 corporate restaurants plus franchised locations.
In the latest transaction, Redberry will invest $20 million to acquire 32 Ontario locations from Heartland Food LLC, an American franchisee focused mainly on eight states in the U.S. Midwest.
Redberry has a total of about 7,000 employees — with roughly 3,860 of them working in the Burger King operations after the latest acquisition.