Goldman Sachs has agreed to acquire a 100% stake in Burger King Japan from Affinity Equity Partners, signalling a major expansion into the Asian fast-food market. The deal, announced on 18 November 2025, positions the investment bank to execute an aggressive growth strategy aimed at tripling the franchise’s revenue within three years. Strategic Diversification The acquisition reflects Goldman Sachs’ broader strategy of diversifying its portfolio through high-potential consumer brands. While financial details and post-acquisition plans are still emerging, the transaction underscores the sector’s appeal to private equity capital. ‘This transaction is one of the latest, high-profile private equity-led deals in Asia’s consumer sector this year, which also includes CPE’s joint venture with Burger King China, on which MoFo also advised,’ stated Morrisson Foerster, the law firm advising Affinity Equity Partners. The firm added: ‘The closing of the sales and purchase agreement is subject to customary conditions precedent, including regulatory and franchisor approvals.’ Goldman Sachs’ Strategic Growth Goals Market estimates suggest that the sale of Burger King Japan to Goldman Sachs could be worth about £345. 1 million ($452 million). This purchase is part of the bank’s aggressive growth plan for the brand as well as its own growth in another business field. With Goldman Sachs assuming control, Burger King Japan is expected to accelerate its expansion. Following the acquisition, the firm plans to increase Burger King Japan’s annual sales to £585. 6 million (¥120 billion) by 2028 nearly three times its current level. The investment firm has outlined an ambitious plan to triple the brand’s domestic sales and significantly widen its presence across the country before the decade ends. To reach this target, it will expand the chain’s footprint by increasing the number of Burger King restaurants to 600, effectively doubling the existing store count in the region. Challenging Japan’s Competitive Burger Fast-Food Market A key component of Goldman Sachs’ strategy is to challenge major local rivals-most notably Mos Burger, which is Japan’s second-largest homegrown burger chain-by capitalising on Burger King’s signature Whopper burger range. Japan’s burger market is fiercely competitive, with McDonald’s leading by a wide margin. It operates over 3, 000 stores nationwide, while Mos Burger maintains a solid footprint with more than 1, 300 branches. Currently, Burger King operates approximately 310 stores, making it is a smaller contender in the sector. However, Goldman Sachs views this modest scale not as a setback, but as a prime opportunity for aggressive expansion. Meanwhile, the Burger King Japan acquisition is being handled by Goldman’s Alternative, the firm’s asset management arm. The Morrison Foerster deal team in Tokyo was led by M&A/PE partner Gary Mitchell Smith, M&A partner Mitsutoshi Uchida, and M&A associates Yui Hirohashi and Yusaku Narita.
https://www.ibtimes.co.uk/burger-king-japan-sold-goldman-sachs-whopper-sized-deal-massive-expansion-plans-after-acquisition-1757045
Burger King Japan Sold to Goldman Sachs in Whopper-Sized Deal With Massive Expansion Plans After Acquisition
