Sept 02, Colombo: Softlogic Holdings, a diversified conglomerate in Sri Lanka today announced that the company and its full-owned subsidiary Softlogic Restaurants (Private) Limited plans to open three Burger King Restaurants in Sri Lanka.
In a stock market disclosure to the Colombo Stock Exchange (CSE), Softlogic Holdings said it entered into a Master Franchise and development Agreement with the Singapore-based BK AsiaPac Pte Ltd.to develop, open and operate Burger King Restaurants in Sri Lanka.
Under the agreement BK has granted Softlogic the exclusive right to develop, establish and operate direct owned Burger King Restaurants, The Softlogic will also have the right to license franchises to open Burger King Restaurants in the country.
As the Master Franchise agent Softlogic will have the right to use and permit franchises to use the Burger King trademark and the Burger King system to operate the chain in Sri Lanka.
BK has agreed to provide services and operational support to Burger King Restaurants operating within Sri Lanka.
The Singapore company is a subsidiary of Burger King Worldwide and the Master Franchisor for the fast food chain in Asia Pacific region.
Softlogic said Burger King is a strong competitor in food franchise business with a unique taste and value proposition and will be a solid contributor to the Group's future Growth.