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Monday November 26, 2007
CIMB Private to grow franchise
KUALA LUMPUR: CIMB Private Equity has bought 60% equity in the largest Burger King franchisee in Malaysia and will pump in an undisclosed sum of money into the company to grow the franchise in the country.
In a statement, CIMB said it through CIMB Private Equity Fund 1 bought the 60% stake in Cosmo Restaurants Sdn Bhd and will inject cash to grow new restaurants, expand and refurbish existing restaurants.
Cosmo began operations in 1997 and now has 20 Burger King restaurants. Cosmo's revenue grew significantly over the past five years, and there are plans for it to register double-digit growth in revenue.
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