Megafood set to open a further 70 Burger King outlets in Spain24 January 2018
It will invest 75 million euros in the next seven years and create 2,000 jobs to double its presence
Megafood, Burger King's largest franchisee in Spain with a total of 69 establishments, has reached an agreement with the restaurant group to assume exclusive control of the expansion of the chain –which is owned by Restaurant Brands International– in four Andalusian provinces (Cadiz, Cordoba, Huelva, Seville), Canary Islands, Extremadura, Ceuta, Melilla and the Algarve (Portugal) over the next seven years.
As part of this plan, Megafood has undertaken to invest over 75 million euros in opening 71 new Burger King restaurants, making a total of 140, double those it manages currently. These openings will involve the creation of 2,000 new jobs through to 2024, in addition to the 1,500 Megafood currently has in Spain.
According to Borja Hernández de Alba, general manager of Burger King Spain: “This new agreement represents Burger King Spain's clear and firm commitment to Megafood as a key partner in developing its brand. After almost 15 years of working together, this is a further step in our strategic alliance”.
First franchisee in Spain
The company Megafood is part-owned by the risk capital funds GED Sur and Diana Capital, and by a group of private investors headed by Martín Aleñar, the company's current CEO. It currently manages 8% of the Burger King outlets in Spain, and has eight more restaurants than the chain's second largest franchisee.
Spain is one of Burger King's largest markets outside the United States. It was here that the brand began its internationalization in 1975. The agreement with Megafood is part of its growth strategy for Restaurant Brands Iberia, its master franchisee in Spain and Portugal, which aims to reach a figure of 1,000 restaurants in five years.