Travers Smith LLP has advised an investment vehicle backed by Burger King UK ("BKUK"), a Bridgepoint investee company, on its acquisition of Karali Limited and Teresina Limited (the "Karali Group"). The acquisition of the Karali Group, being the second largest portfolio of Burger King franchise restaurants in the UK, will result in 74 Burger King restaurants being added to the BKUK portfolio.
The Travers Smith team was led by Ian Keefe (Private Equity and Financial Sponsors Partner) and Laura Kelly (Private Equity and Financial Sponsors Senior Associate), with assistance from Eilidh Morrison and Michael Asprou (Private Equity and Financial Sponsors Associates). Specialist advice was provided by Sarah Walker (Real Estate Partner), Simon Skinner (Tax Partner) and Laura Jackson (Tax Senior Associate), and debt advice was provided by Matt Ayre (Head of Leveraged Finance), Will Sheridan and Tim Short (Finance Senior Associates). James Longster (Commercial Partner) and Glen Evans (Commercial Associate) provided advice in relation to the commercial and franchising arrangements.
The acquisition included the securing of a £110m fixed-term facility to support BKUK's growth strategy of restaurant expansion and franchise acquisition.
Both BKUK and Bridgepoint are long-standing clients of Travers Smith LLP.