Inspira Global acquires Restaurant Brands Asia

Inspira Global, backed by the promoters of Ajanta Pharma, has completed the acquisition of a controlling stake in Restaurant Brands International (RBA), the operator of Restaurant Brands International — Burger King in India and Restaurant Brands International — Burger King and Restaurant Brands International — Popeyes in Indonesia, for a total investment of approximately ₹2,235 crore. The transaction was executed through Inspira Global's food and beverage platform Lenexis Foodworks. Following the completion of the mandatory open offer and receipt of regulatory approvals, Inspira Global now holds 41.78% of RBA, with the potential to increase its stake to 48.04% upon exercise of warrants and an additional ₹450 crore infusion. The acquisition marks the exit of existing promoter QSR Asia Private Limited, majority owned by Everstone Capital. RBA's board has appointed Madhusudan Agrawal as Chairman and Aayush Agrawal as Non-Executive Director. RBA will continue to operate Restaurant Brands International — Burger King and Restaurant Brands International — Popeyes under its existing master franchise agreements with Restaurant Brands International Inc., which were recently extended through 2050. The fresh capital will be used to expand RBA's restaurant network, enhance digital capabilities, and improve operational excellence.