Everstone Capital holds stake in Restaurant Brands Asia, which operates Burger King in India. Credit: Siyapath via Shutterstock.com.

Private equity companies General Atlantic and Advent International are in talks to acquire Everstone’s Burger King stake in India, The Economic Times has reported.

Both firms are said to be at an advanced stage in buying Everstone Capital’s 40.9% share in Restaurant Brands Asia (RBA), which operates the fast food restaurant chain Burger King in India and Indonesia.

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Everstone also operates Subway and Lavazza coffee in India.

The news agency quoted a source as saying: “Everstone, which also operates Subway and Lavazza coffee in India, is looking to cash out from its stake in Burger King and is now actively engaged in due diligence with private equity firms General Atlantic and Advent.”

The sale of stake is said to have surfaced at a time when the growth of Western-style fast food has slowed down.

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The Economic Times has reported that consumers prefer to switch to lower-priced brands and the competition from smaller, regional brands has stepped up,

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As of March 2023, Burger King and its coffee and beverage sub-brand BK Café operated 391 restaurants nationwide.

None of the parties involved in the deal have so far issued an official comment.

Earlier this month, Everstone Capital was reportedly negotiating terms to divest its 41% stake in Restaurant Brands Asia (RBA).

It was speculated that Jubilant Foodworks, which operates Domino’s in India, was also interested in the deal in addition to General Atlantic and Advent.

However, Jubilant Foodworks denied the reports in a regulatory filing.