PARIS - Hamburger chain Burger King said on Monday it discussing the sale of half of its 16 directly-owned restaurants in France with McDonald's after deciding to pull out of the French market.
Burger King, owned by British food group Grand Metropolitan Plc, said in July it was leaving France to concentrate its efforts in Britain, Germany and Spain. "Following its decision in July to leave the French market, Burger King expects to sell to McDonald's France eight restaurants in France out of a total 16 company-owned restaurants," Burger King said in a statement.
It has informed its employee committee of the sale plan and is looking for buyers for the other eight company-owned restaurants with a view to preserving jobs, it said.
No price was given in the statement.
McDonald's has come under severe attack in the United States as Burger King has eaten into its market share and Wall Street grumbled over the quality of its management.
Burger King has 39 restaurants in France, mainly in and around Paris. Aside from the 16 owned by the company, the others are owned by franchisees.
It said it decided to pull out of France because of Burger King's limited size, market position and low profitability.
Burger King has 973 outlets in Europe and the Middle East and is growing rapidly. It aims to open a further 167 outlets in the region in the current financial year and another 184 restaurants in the next fiscal year.
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