Turkish Burger King operator prepares for IPO at $2B

TAB Gıda, Turkey's leading company in the fast food sector, holding the operating rights to 600 Burger King branches in Turkey and Turkish branches of international fast food giants Popeyes, Sbarro and Arby's, is currently preparing a public offering

The owner of Burger King's Turkey franchise, TAB Gıda Sanayi ve Ticaret A.Ş., is preparing a public offering. According to information provided by relevant sources, TAB Gıda, which also has the right to operate Burger King branches in China, is collaborating with US Moelis & Co for the public offering.

Reportedly, TAB Gıda's value in the offering can exceed $2 billion.

TAB Gıda, in which Gold Food Sachs Group Inc., Credit Suisse Group AG and EBRD invested $150 million in August, operates 600 Burger King branches in Turkey and branches of Popeyes, Sbarro and Arby's.

In addition, venture capital company Turkven reportedly plans to offer the Domino's Pizza franchise in Turkey, Russia, Georgia and Azerbaijan to the public.

Daily Sabah reached a board member of TAB Gıda, but he did not comment on the issue.

Turkey saw two IPOs that raised a combined $120 million last year, according to data compiled by Bloomberg.