TFI TAB Gida Yatirimlari (EBRD-48420)

  • Turkey
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jul 20, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
TFI TAB Gida Yatirimlari A.S
The holder of the loan, grant, or other investment.
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 50.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 150.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS May 3, 2017

Disclosed by Bank Aug 17, 2016

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Project Description
The EBRD invested US$ 50 million in preferred stock of Turkey-based TFI TAB Gida Yatirimlari A.S, the leading quick service restaurant operator in Turkey to expand their supply chain and roll out new restaurants. The Bank invested alongside Goldman Sachs and an investment vehicle advised by Credit Suisse Special Investments Group.
Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Turkey-based TFI TAB Gida Yatirimlari A.S (TFI) is incorporated in Turkey. TFI runs over 1,500 restaurants and is the largest Burger King master franchisee globally with exclusive operating rights in Turkey and China. In Turkey, the company operates five brands: Burger King, Popeyes, Sbarro, Arby's its own Usta Donerci. The company also owns and operates bread, potato and meat processing plants which are part of its supply chain.
Contact Information
Ekrem Ozer, Chief Financial Officer + 90 212 310 48 99 Dikilitas 351; Mah. Emirhan Cad., No:109 Atakule, Besiktas, Istanbul, Turkey ACCOUNTABILITY MECHANISM OF EBRD The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at or you can submit a complaint online using an online form, You can learn more about the PCM and how to file a complaint at