Existing shareholders, the Kurdoglu family and the Urundul family have sold a small minority stake to Cartesian.
TAB Gida serves as the master franchisee for Burger King, Popeyes, Sbarro and Arby’s and operates more than 500 restaurants in Turkey, including 350 Burger King restaurants.
With more than twice as many restaurants as its nearest quick-serve competitor, TAB Gida is present in 53 of Turkey’s 81 cities.
Cartesian managing partner Peter Yu said they will work closely with the company to further strengthen its leadership position in Turkey and in the region. This investment is a prime example of their strategy of partnering with outstanding management teams to build true global leaders.
TAB Gida vice-chairman Erhan Kurdoglu said Cartesian brings strategic knowledge and perspective that will help TAB Gida grow even more rapidly and successfully – particularly into international markets.
TAB Gida with its franchise restaurants are expected to generate around $600m in revenue in 2011.
