Fast-food chain Burger King is preparing to float on the London Stock Exchange for around £600m, according to reports.
Burger King UK is understood to be in advanced discussions with potential advisers, including Investec and Numis bankers, as the company readies itself to list next year, according to The Times, which first reported the news.
The restaurant chain, owned by private equity group Bridgepoint, reported sales of £117m in 2020, an increase of £16m from its 2019 sales in spite of the pandemic.
The news comes as a number of other leisure sector companies consider listing, including Mexican food chain Tortilla which made its debut on the junior Aim stock market with a £70m flotation last week.
Burger King UK and Bridgepoint, whose other investments include Hobbycraft and Itsu, are expected to put together their listing plans in the coming week. The companies may also explore the possibility of a sale which, according to The Times, could be worth £500m to £600m.
Burger King became part of Restaurant Brands International (RBI) group, listed in New York, in 2014. Three years later Bridgepoint bought the master franchise for the UK along with Caspian UK Group – one of the biggest Burger King franchises with 74 restaurants.
The majority of Burger King UK’s 530 sites are owned by franchisees but under Bridgepoint the restaurant has been buying back some of these.
Burger King have been contacted for comment.