07:28 AM EST, 11/10/2025 (MT Newswires) -- Restaurant Brands International (QSR) said Monday it has formed a joint venture with Chinese alternative asset manager CPE to expand Burger King in China.

The company said the new joint venture will expand the brand's footprint to more than 4,000 restaurants by 2035 from about 1,250 currently.

CPE will invest $350 million in primary capital to fund restaurant expansion, marketing, menu innovation and operations under the venture, Restaurant Brands International said.

Upon transaction close, CPE will own about 83% of the business, and Restaurant Brands International will hold a minority 17% stake and a board seat, the company said.

The deal is expected to close in Q1 2026 and allows Restaurant Brands International to recognize royalties from Burger King China in its international segment.