EBRD invests in Turkey’s leading restaurant group

Some US$ 50 million is the EBRD’s investment alone. Goldman Sachs invested US$ 80 million and Credit Suisse US$ 20 million. Altogether the three banks invested US$150 million. 

TFI runs more than 1,500 restaurants in Turkey and China and is the world’s largest Burger King master franchisee with exclusive operating rights in Turkey and China. In Turkey, the company also owns and operates bread, potato and meat processing plants which are part of its supply chain. 

The new financing will help TFI roll out new restaurants as well as expand their supply chain and implement resource-efficiency measures, according to the statement. 

“We are very proud to have received this important round of financing from three global investors. We believe this investment will facilitate our next stage of development. Our mission has always been to provide affordable dining and leisure experiences to our millions of customers in two countries while observing the highest standards in operational quality. This investment will help us reinforce this mission and expand our consumer base globally. The backing of these global institutions will also help us prepare for the public markets in the next few years,” said TFI’s president and the vice chairman of the Board of Directors, Korhan Kurdoğlu.

“This equity investment will help TFI grow both at home and abroad, creating job opportunities for young people and offering them much-needed training. As a shareholder, we will be pleased to be part of the company’s growth story and help it develop into an international company,” said EBRD’s director of property and tourism, Claudia Pendred.

The bank will support TFI’s corporate governance improvements and enhance its sustainability standards, according to the statement.