Restaurant Brands International has announced a joint venture with CPE to operate Burger King’s restaurants in China, with CPE owning 83% and Restaurant Brands holding 17%. CPE plans to invest $350 million to expand the chain from 1,250 locations to over 4,000 by 2035. The deal is set to close in the first quarter of 2026.

Earlier this year, Restaurant Brands acquired Burger King China’s equity interests from TFI and Cartesian Capital for $158 million. The move was intended to find a local operator, leading to the partnership with CPE. Starbucks also recently announced a joint venture with Boyu Capital for its China business amid the economic slowdown in the country.

Read more at CNBC: Restaurant Brands International to form Burger King China joint venture with CPE