Restaurant Brands International (RBI), the parent company of Burger King, Tim Hortons and Popeyes, has announced that one of its subsidiaries has acquired Burger King China from its local franchisee TFI Asia Holdings BV and Pangaea Two Acquisition Holdings XXIII (Cartesian) for $158m.

Restaurant Brands International (QSR) took over Burger King China from its local franchisee with a $158 million purchase. This comes as Burger

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Restaurant Brands acquired the stakes in Burger King China from a holding company TFI Asia Holdings BV and a blank-check firm Pangaea Two Acquisition Holdings XXIII. Restaurant Brands had 1,474 Burger King restaurants in China, as of December 31, 2024. Copyright 2025 Thomson Reuters.

Restaurant Brands International Inc. is one of the world’s largest quick-service restaurant companies, with annual system-wide sales of nearly $45 billion and over 32,000 restaurants across more than 120 countries and territories.

Restaurant Brands International Inc. says it has bought its partners' stakes in Burger King China for US$158 million and is seeking a new local partner.

Restaurant Brands International (NYSE:QSR) subsidiary has acquired from TFI Asia Holdings BV and Pangaea Two Acquisition Holdings XXIII all their equity interests in Burger King China for approximately $158M in an all-cash transaction.