MIAMI-DADE-COUNTY (dpa-AFX) - Burger King Worldwide Inc. (BKW) announced Thursday that it has entered into a multi-country, Master Franchise Joint Venture Agreement with BEBOCA LTD in Central America.
As the terms of the agreement, BKW and BEBOCA LTD will establish a new entity named BK Centro America. The new joint venture will acquire the master franchise rights for the 178 restaurants in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama and has committed to manage the aggressive development of the BURGER KING brand in these countries.
The company said it will provide operations, supply chain, procurement and marketing for franchisees in Central America and will have new development exclusivity in these markets.
BEBOCA LTD is a long-standing BURGER KING franchisee, which currently owns and operates 48 restaurants in Costa Rica and Panama.
Copyright RTT News/dpa-AFX