India’s antitrust regulator approves a multi-step stake purchase in Restaurant Brands Asia, Burger King’s national master franchisee.
The Competition Commission of India has approved a consortium led by Lenexis Foodworks (LFPL) to acquire a stake in Restaurant Brands Asia, the exclusive national franchisee for Burger King in India. The deal involves fresh equity, warrant subscriptions, and an open offer to public shareholders, structured in multiple steps.
Restaurant Brands Asia operates 577 Burger King outlets across India as of December 2025. The buyer group includes LFPL, which runs QSR brands like Chinese WOK and The Momo Co, alongside entities linked to entrepreneur Aayush Madhusudan Agrawal.
The acquisition aligns with LFPL’s expansion in the quick-service restaurant segment, though financial terms and the exact stake size remain undisclosed. The CCI’s approval removes a key regulatory hurdle for the transaction.