26 November 2014 – New Straits Times
Brahim’s Holdings Bhd operates Burger King outlets at the Kuala Lumpur International Airport. Bloomberg picture
BRAHIM’S Holdings Bhd has acquired the Burger King franchise from Ekuiti Nasional Bhd (Ekuinas) for RM95 million.
The investment was made via its wholly-owned unit, Brahim’s Trading Sdn Bhd.
In a statement, Brahim’s said it was acquiring the entire interest in Rancak Selera Sdn Bhd, a unit of Ekuinas, which in turn is a private equity fund management company.
Rancak Selera owns Cosmo Restaurants Sdn Bhd and Burger King Singapore Pte Ltd, which are holders of the Burger King franchise rights in Malaysia and Singapore, respectively.
Post-acquisition, a special purpose vehicle (SPV) will be set up in which Brahim’s will hold an 80 per cent stake and Quantum Angel Sdn Bhd the rest.
Quantum Angel is a private equity firm managed by Zulu Capital Sdn Bhd, a fund management company.
At the helm of Quantum Angel is Datuk Ahmad Zaki Zahid, who was instrumental in the RM5.2 billion privatisation of QSR Brands Bhd and KFC Holdings Bhd two years ago.
Brahim’s founder and executive chairman Datuk Seri Ibrahim Ahmad said the acquisition of the Burger King franchise would provide the company with significant growth potential.
Ibrahim is confident that the business will grow because of Brahim’s association with the Burger King brand for the past 15 years through its Burger King outlets at the Kuala Lumpur International Airport, coupled with the expertise of Ahmad Zaki.
Ahmad Zaki is expected to lead this partnership and grow the Burger King franchise here and in Singapore.
Meanwhile, Brahim’s, which is involved in in-flight catering, airport F&B, restaurant franchises and upstream sugar refinery, may divest up to a 40 per cent equity in the SPV to a strategic co-investor.
