Chinese private equity firm CPE will invest US$350 million for an 83 per cent stake in a joint venture controlling Burger King's China operations, reports Caixin.

Restaurant Brands International Inc., the Canadian owner of Burger King, will retain 17 per cent in the venture, which holds exclusive rights to the brand in China for 20 years.

The deal values the business at nearly $421 million and is expected to close in the first quarter of 2026.

CPE, which manages more than CNY150 billion (US$21 billion) in assets, has invested CNY10 billion in consumer services. Its portfolio includes tea and beverage chain Mixue Bingcheng, jewellery brand Lao Pu Gold and toymaker Pop Mart.

The investment will fund Burger King's expansion in China, with plans to grow outlets from about 1,250 to more than 4,000 by 2035. CPE said funds will also support marketing, menu innovation and operational upgrades.