MOSCOW, May 3 (RIA Novosti) - Burger King...
Vedomosti cited an executive with a local fastfood market leader as saying that the Moscow-based Shokoladnitsa coffeehouse chain, which controls 14-15% of the local market, had the best chances of obtaining a Burger King franchise.
"We are interested in cooperating with them, but everything will depend on the contract," a top Shokoladnitsa manager told the paper, adding that the terms of a possible deal had not been brought up at a meeting that had already been held.
Burger King Holdings HQ in Florida declined to comment on the company"s plans in Russia, saying the business was in for a quiet period. The world"s second largest fastfood chain has restaurants in 65 countries, and is 34% owned by Texas Pacific Group, and 30% by Bain Capital and Goldman Sachs each.
Vedomosti said that according to Entrepreneur business magazine a 20-year franchise from Burger King costs $50,000, with 4.5% royalties. About 9,700 of the world"s 11,000 Burger King eateries operate under
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