After a six-year absence, one of the most recognizable fast food brands in the world is making its Israeli comeback. The first branch of the re-launch was opened this week on Ibn Gabirol Street in Tel Aviv - the first of five to be opened in February. The other branches will open later in the month, one in Beersheva and three in Tel Aviv (in Ramat Hachayal, the Azrieli Center Mall, and Dizengoff Center).
Burger King Israel is backed by Pierre Besnainou, who holds 75% of the Israeli operation, together with Steve Benchimol. The two have a third partner who holds 25% of the shares.
According to the investors’ plan, the re-launch will expand to 10 branches within a year, at a total investment of $12 million - the figure which the partners committed to Burger King Corporation to invest.
The long-term development plan for the chain calls for expansion to up to 50 branches within five years, with all outlets under the direct ownership of Burger King Israel. There is no plan for expanding by franchising.
Prices at Burger King Israel will be similar to those charged by McDonald’ s and Burgeranch. Burger King will charge NIS 41.90 for a Whopper meal, which compares with McDonalad’s McRoyal meal’s price of NIS 43.90 and NIS 44.90 for a Ranch meal at Burgeranch.
Published by Globes [online], Israel business news - www.globes-online.com - on February 2, 2016
© Copyright of Globes Publisher Itonut (1983) Ltd. 2016