M&AConsumerSIGNED
Cinven Sells Spanish Burger King Operator for €2.33 Billion
Value
€2.3Bn
Acquirer
Gregorio Jiménez, Ignacio Sánchez Galán family office, and Costa
Target
Restaurant Brands Europe
Cinven has agreed to sell Restaurant Brands Europe, the owner of Burger King in Spain, for a value of 2,330 million euros. The buyers are a group including its current president Gregorio Jiménez, the family office of Ignacio Sánchez Galán, and food group Costa.
✦ Meridian Analysis
Cinven has signed an agreement to sell Restaurant Brands Europe, the franchisee that operates Burger King, Popeyes and Tim Hortons in Spain, to a consortium led by the company’s current president Gregorio Jiménez, the family office of Iberdrola chief Ignacio Sánchez Galán (Royal Park) and food group Costa. The board of Restaurant Brands Europe has approved the transaction, which values the full equity of the business at €2.33 billion. Cinven, which bought the asset in 2021 for about €1 billion and held a 79 % stake, is exiting a platform it built around the Spanish fast‑food market. The deal is structured as a straight equity sale, with the buyer group providing the cash consideration; no debt refinancing or carve‑out mechanics are disclosed.
What remains undisclosed are the exact financing mix for the consortium, the identity of financial advisers and any earn‑out or contingent components that may be embedded in the purchase price. Observers will also watch for antitrust clearance from the Spanish competition authority and the timetable for closing.
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