BBVA advises Quick Meals in the acquisition of 16 Burger King restaurants in SpainJune 3, 2013
BBVA Corporate Finance has advised Quick Meals Ibérica in the acquisition and fund raising of 16 Burger King restaurants in Spain, reinforcing its consolidation and leadership strategy as the main Burger King franchisee in the country.
Burger King España and Quick Meals Ibérica have reached an agreement for the acquisition by Quick Meals Ibérica of all the restaurants directly operated by Burger King España in Catalonia.
Quick Meals Ibérica is a leading company in fast-food restaurants in Spain and the main Burger King franchisee with 60 restaurants by the end of 2012 (c. 12% of Burger King total stores). In 1981, it opened its first Burger King franchise becoming the first private group to develop a franchise model on the fast food industry in Spain.
The transaction crystallizes Burger King's new strategy announced by its current shareholder, the global investment firm 3G Capital, aimed to achieve growth via concentration on a limited number of relevant franchisees in each geography.
BBVA Corporate Finance has assisted Quick meals Ibérica in this transaction that reinforces significantly its presence in the north-east region of Spain, adding 16 restaurants in Catalonia and a right of first refusal over new Burger King openings in the region.
With this deal, BBVA demonstrates the quality of its services of Corporate & Investment Banking.
This transaction is the 13th advised by BBVA in the Consumer & Retail industry in Spain since 2009. Main transactions:
- 2013 – Deoleo / Hojiblanca: issuance of a fairness opinion letter for Deoleo's Board of Directors in relation with the acquisition by Deoleo of Hojiblanca brand, a leading extra virgin olive oil brand, and certain production facilities
- 2012 – Bodegas Lan / Sogrape: acquisition of Bodegas LAN, one of the main Rioja wine producers in Spain, by Sogrape, the leading wine group in Portugal
- 2011 – Solán de Cabras (Osborne) / Grupo Mahou San Miguel: sale of Solán de Cabras, a reference within the premium "health & wellness" drinks industry, to Grupo Mahou San Miguel
- 2011 – Ercoreca / Uvesco: sale of Ercoreca, leader in the food distribution market of the Vizcaya province, to Grupo Uvesco, leading competitor in Cantabria and Guipúzcoa
- 2010 – Grupo Leche Pascual / Azkoyen: acquisition by Pascual of the leading Horeca coffee player with a national market share of c.5%
- 2010 – Domecq Bodegas (Pernod Ricard) / Marqués de Riscal-Bodegas Muriel: sale of Marqués de Arienzo and related vineyards to a consortium formed by Marqués de Riscal and Bodegas Muriel
- 2009 – El Árbol / Galerías Primero: acquisition of Galerías Primero by Grupo El Árbol Supermarkets from CAI Savings Bank
BBVA reinforces its leadership in the Spanish market. Since 2009, BBVA has participated in more than 60 transactions advising leading Spanish companies: Cementos Portland Valderrivas, Acciona, FCC, Abertis and Ferrovial in Construction & Infrastructure, Enel, Iberdrola, Cepsa and Endesa in Energy, Grifols in Hemoderivatives, Pernod Ricard, Diego Zamora and Grupo Osborne in Beverages, Deoleo and Nutrexpa in the Food sector and Mapfre in Insurance industry, among others.