PwC advises the Karali Group on the reorganisation and sale of shares to Burger King UK

PwC’s Lead Advisory and Private Business Tax teams are pleased to announce the successful pre-transaction reorganisation and sale of Karali Limited, Karali Leisure Limited and Terasina Limited (the Karali Group), operators of 74 Burger King franchised restaurants, to Burger King UK (BKUK).

The deal represents BKUK’s largest ever franchise consolidation from its second largest franchise partner, and supports the development of its growth strategy, which BKUK plans to achieve through a series of new restaurant openings and selected franchise acquisitions.

The Karali Group was formed in 2007 to acquire a small portfolio of Burger King Restaurants and since then has grown its portfolio through a combination of strategic acquisitions and the pursuit of an ongoing restaurant development programme. Karali’s 74-restaurant portfolio has a national footprint and represents a diverse multi-format estate, with stores spanning 36 Drive-Thrus, 9 In-Lines, 27 Shopping Centres and 2 Leisure restaurants, employing in the region of 1,500 people.

Salim Janmohamed, owner and Managing Director of the Karali Group, said:

“I had the pleasure of PwC acting as lead advisor during the sale of my business. The team worked with tenacity, grit and determination to ensure the best possible outcome. The unparalleled levels of support, guidance, flexibility and client care were evident from the outset and played a huge role in enabling the transaction to materialise. The team, led by Tim Armstrong (M&A) and Dipan Shah (Tax) were nothing short of incredible, and I would thoroughly recommend them. It was a massive pleasure working alongside the entire PwC team and I commend them once again for their professionalism and astute advice. I truly look forward to working together over the long-term.”

The PwC relationship with Salim and Karali is led by Dipan Shah. PwC acted as lead financial and tax advisor to Salim and Karali.

The PwC team advising on the deal was Tim Armstrong, Alex Samuels, James Walker and Blythe Xue. The PwC team providing tax structuring advice and transaction tax support was Dan Packwood, Chris Norgrove and Brooke Maddison.

Tim Armstrong, PwC Deals Partner said:

“We are very pleased to have been able to support this landmark deal in the QSR space. We have worked closely alongside the business to prepare for and deliver the transaction, which represents the successful culmination of years of successful growth under Salim’s stewardship. It’s been a pleasure to work with Salim and his team to achieve the sale, and we look forward to observing the growth of the BK brand in the UK over the coming years, as well as supporting Salim on his future endeavours.”