City Capital Ventures buys restaurant franchisee Redberry
City Capital Ventures (CCV), an affiliate of U.S. investment and merchant banking firm City Capital, has acquired Redberry Group, a Toronto-based franchisee of quick-service restaurant chains Burger King and Pizza Hut. Terms weren't disclosed. Saxonwold Capital is partnering in the deal with CCV. Established in 2005, Redberry operates 111 Burger King restaurants and 23 Pizza Hut restaurants, all located in Canada. CCV Managing Partner Dan Kipp said his firm will back the Canadian expansion of the Burger King and Pizza Hut brands through Redberry. Burger King was acquired in 2010 by Brazilian-U.S. private equity firm 3G Capital. In 2014, Burger King was combined with Tim Hortons for $12.6 billion.
8 February 2019•4 mins read
