TFI TAB Food Investments (TFI TAB Gida), the exclusive franchisee for Burger King and other QSRs in Turkey and China, filed on Monday with the SEC to raise up to $400 million in an initial public offering.
The Istanbul, Turkey-based company was founded in 1994 and booked $964 million in sales for the 12 months ended September 30, 2017, based on 3.7 billion Turkish lira converted at the 11/13/17 exchange rate. It plans to list on the Nasdaq under the symbol QSRG. TAB Foods filed confidentially on September 20, 2017. Morgan Stanley, Credit Suisse, Goldman Sachs, Citi, J.P. Morgan and Rabo Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
