MIAMI—Burger King Worldwide has sold its Canadian subsidiary, including 94 company-owned restaurants, to Redberry Investments.
Financial terms surrounding the sale of Burger King Restaurants of Canada, which makes Redberry the brand’s master franchisee in Canada, were not disclosed.
However, as part of the agreement, Redberry will implement a new restaurant opening program and an aggressive restaurant remodelling strategy.
Quebec-based Redberry is privately owned and operated by three shareholders, Robert Laverdure, Andreas Kragaris and Christian LeBrun.
The company says it is “set” to have offices in Montreal, Toronto, Calgary and Detroit.
In addition to the 94 corporate stores in Canada, the chain has about 200 franchise locations across the country.