Spanish investment firm Lurca plans to sell 30 Burger Kings for as much as EUR27m (US$32.66m) in a bid to exit that business, local financial daily Expansion reported.
Spanish family Lurena, Lurca’s owner, decided to sell the restaurants to pursue other fast-food ventures in Spain, Expansion reported, citing executives familiar with the situation.
Burger King officials would not comment except to confirm that Lurca owns 30 outlets.
Rival franchisees Grupo Zena, Ibersol and another unnamed entity have lined up to buy the restaurants, Expansion added. Grupo Zena owns 65 Burger Kings in Spain while Ibersol is Burger King’s largest franchisee in Portugal.
In Spain, Burger King owns 394 of which 42 are self owned and 352 are franchised.
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