AS Tallink Grupp (the "Company") has acquired exclusive development rights for
global fast food chain Burger King in Estonia, Latvia and Lithuania. The first
Burger King restaurants are planned to be opened in Tallinn this winter and the
first restaurants in Latvia and Lithuania in the first half of 2020. The Company
plans to open and operate restaurants across Estonia, Latvia and Lithuania and
expects the expansion to create a total of nearly 800 new jobs in the Baltic
states. The Company will hold the licence to operate each restaurant for 20
years from opening.
"Tallink made history already in 2016 when the world's first floating Burger
King restaurant was opened on Star. Now we are making history again, bringing
the iconic true American-style Whopper burger as well as the rest of the popular
Burger King products to the people of Estonia, Latvia and Lithuania" Paavo
Nõgene, CEO of Tallink Grupp said. "We have taken a number of steps to expand
the activities of Tallink Grupp's onshore as well as on the sea and the
acquisition of the Burger King franchise across the Baltics is another important
step forward with our onshore expansion plans. We are pleased that we are able
to leverage the existing internal know-how and competence of our retail and
restaurant operations teams. Tallink will continue to seek expansion
opportunities onshore and on the sea, both in the Baltic Sea region as well as
further afield," Nõgene added.
The acquisition of franchise rights will not impair the Company's ability to
serve its debt and investment commitments. To operate the Burger King
restaurants AS Tallink Grupp has established a wholly-owned subsidiary OÜ
Tallink Fast Food. Establishment of the subsidiary will not affect the
consolidated financial results of the group. Establishment of the subsidiary
cannot be interpreted as acquiring of a major holding for the purposes of the
Nasdaq Tallinn Rules and Regulations chapter Requirements for Issuers and does
not have a significant impact on the activities of the group. The members of the
Supervisory Board and Management Board of AS Tallink Grupp have no other
personal interest in the transaction.
Joonas Joost
Advisor to the Management Board
Head of Investor Relations
AS Tallink Grupp
Sadama 5
10111 Tallinn, Estonia
E-mail joonas.joost@tallink.ee
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