Empowerment company Grand Parade Investments (GPI), which is trading at close to a 12-month low, says it is confident of reaching the 75-store target for fast-food business Burger King by the end of June 2018. GPI – which has opened 70 Burger King stores across SA since securing the master franchise deal in 2013 — needs to reach the 75-store mark before the end of June to retain the exclusivity clause in the arrangement. At the annual general meeting on Thursday night, GPI chairman Hassen Adams predicted that Burger King could have 80 stores open by the end of June, which would translate into turnover of about R1bn. The Burger King roll-out is GPI’s main operational thrust – and the company has to date spent about R700m on the venture. But GPI also holds smaller fast-food interests in form of local roll-out rights for Dunkin’ Donuts and Baskin-Robbins as well as valuable minority interests in the gaming operations — most notably the SunWest Casino and limited payout machine operator...
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