Restaurant Brands Asia Ltd. (RBA), the master franchise operator of Burger KingKing in India and Burger King and Popeyes in Indonesia, has announced the successful completion of its acquisition by Inspira Global through its food and beverage platform, Lenexis Foodworks Pvt. Ltd.
The transaction, valued at approximately ₹2,235 crore, ranks among the largest acquisitions in India’s quick-service restaurant (QSR) sector. It includes a fresh equity infusion, the acquisition of the entire shareholding held by the erstwhile promoters, and the successful completion of the mandatory open offer, following all regulatory approvals and customary closing conditionsconditions.
Following the acquisition, Inspira Global holds a 41.78% stake in Restaurant Brands Asia. Upon the exercise of all warrants, its shareholding is expected to increase to 48.04% through an additional equity infusion of ₹450 crore.
As part of the leadership transition, the company’s Board has appointed Madhusudan Agrawal as Chairman and Aayush Agrawal as a Non-Executive Director.
Despite the change in ownership, Restaurant Brands Asia will continue to operate Burger King® and Popeyes® under its existing long-term master franchise and development agreements with Restaurant Brands International Inc. The Burger King franchise agreements for both India and Indonesia have recently been extended until 2050, providing long-term business stability and supporting the company’s future expansion plans.
Commenting on the acquisition, Madhusudan Agrawal, Chairman of Restaurant Brands Asia, said the company intends to build on the strong foundation established by the existing management through patient capital, disciplined governance, and a long-term growth strategy.
Echoing this vision, Aayush Agrawal said the acquisition reflects Inspira Global’s confidence in India’s long-term consumption story and its commitment to creating one of the region’s most admired food service businesses through operational excellence and customer-centric growth.
Backed by fresh capital and a strengthened leadership team, Restaurant Brands Asia plans to accelerate restaurant expansion, enhance digital and technology capabilities, improve customer experience, and drive sustainable value creation across its India and Indonesia businesses.
