EBRD invests in one of biggest restaurant group in TurkeyStaff Writer | August 10, 2016
One of the largest restaurant operators, Turkey-based TFI TAB Gida Yatirimlari (TFI), has issued $150 million of preferred stock to finance its future growth plans.
Investment EBRD, Goldman Sachs and Credit Suisse in food business
TFI runs more than 1,500 restaurants in Turkey and China and is the world’s largest Burger King master franchisee with exclusive operating rights in Turkey and China.
In Turkey, the company also owns and operates bread, potato and meat processing plants which are part of its supply chain.
The new financing will help TFI roll out new restaurants as well as expand their supply chain and implement resource-efficiency measures.
The bank will support TFI’s corporate governance improvements and enhance its sustainability standards.
TFI also shares the EBRD’s strong commitment to raising vocational skills levels in Turkey, especially creating opportunities for young people and preparing them for the job market.
Working with Turkish educational authorities, TFI and the EBRD will help develop occupational standards for the fast-food industry across the country.
This will benefit tens of thousands of young people employed in the restaurant sector which, along with hospitality and service sectors, provides many young people with their first jobs and often helps the unemployed reintegrate into the work environment. ■