,UK

Burger King UK owner hires banks for planned £600m London IPO: report

The timing and size of the deal “have yet to be finalised”.

The owner of Burger King's UK operations has hired Bank of America and Investec to serve up its initial public offering during the first half of 2022, Sky News reported.

The timing and size of the deal “have yet to be finalised”, but sources cited by the report suggested that a flotation was now “a likelier outcome” than a sale to another private equity firm.

A sale, however, remains possible depending on public market conditions “at the time.”

Burger King UK CEO Alasdair Murdoch unveiled plans to eliminate some of its meat menu items and shift to a 50% plant-based menu by 2031, with the company also having committed to phasing out all single-use plastics in its restaurants by 2025.

Read the full report here.

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The brand previously revealed it will open ten sites this year.
The burger is available until 31 January in Absurd Bird sites.
The company operates 18 restaurants in the UK.
This will be the fifth London site for the Australian chef.
She joined Papa John’s in 2015 as senior director for digital marketing and most recently served as senior vice president for customer experience.
274 million orders were processed in the fourth quarter of last year.
This effectively ends a takeover bid from the Issa brothers' EG Group.
The company will invest over £9.2 million to raise hourly rates amidst sector-wide labour shortages.
Founded in 2017, it already has a presence in ten countries, including the US, UK and Australia.
The move is expected to create 1,000 jobs and 4,000 over the next three years.
Deliveroo, meanwhile, reported a 117% surge in plant-based ordering across the UK since Veganuary 2021.
It also has plans to grow in Edinburgh in the next few years.
Sales in December 2021 ran at approximately 63% of 2019 levels.