Kfc

Shanghai, June 27 (Reuters): Burger King Corp, the number-two fast-food brand to McDonald’s Corp, may float shares as early as next year as it returns to growth after years of restructuring, its top executive said on Monday.

The chain should also post its strongest gain in same-store sales ? a widely watched barometer in the fast-food sector ? since 1984 for its fiscal year to June 30, said chairman and chief executive officer Greg Brenneman.

“An IPO is the most likely exit” for the company’s current owners, said Brenneman, who was attending the opening of his first Chinese outlet, in the country’s commercial heart Shanghai.

“2006 would be the earliest, but by no means would I say that’s a definitive date,” he said. “The store count is taking off and is growing again for the first time in a long time.”

As part of an expansion drive, the US hamburger giant marked its late entry into a Chinese market dominated by McDonald’s and Yum Brands Inc’s KFC, which have been slugging it out in the country for over a decade.

Burger King, which operates more than 11,000 restaurants in 65 countries ? about a third of McDonald’s total ? had suffered in recent years from a lack of clear identity in consumers’ minds and shaky franchisee relations.

The chain is now owned by private equity investors Texas Pacific Group, Goldman Sachs Capital Partners and Bain Capital, which bought the brand for about $1.5 billion from British drinks giant Diageo