Hamburger chain Quick no longer for sale: report

PARIS (BestGrowthStock) – European fast-food chain Quick, a competitor to McDonald’s (MCD.N: ) in Belgium and France, is no longer for sale but instead aims to grow , French newspaper Le Figaro reported on Tuesday.

Quick’s owner, investment fund Qualium Investissement, plans to expand the company, created in 1970, and then draw potential buyers. Chief executive Jacques-Edouard Charret aims to double the chain’s restaurants to 1,000 by 2020, double sales and triple operating profit, Le Figaro said.

Earlier this year, Quick’s owner, advised by investment bank Rothschild, said it was looking at listing the company or selling it.

But, Le Figaro said, the price tag of around 900 million euros ($1.2 billion) was seen as excessive by potential buyers.

Quick ran 468 restaurants in nine countries last year and is the biggest fast-food hamburger restaurant Belgium and Luxemburg and No. 2 in France, according to its website.

Qualium is the new name for CDC Capital Investissement, part of investment group Caisse des Depots.

(Reporting by Caroline Jacobs; Editing by Dan Lalor)

($1 = 0.7625 euro)

Hamburger chain Quick no longer for sale: report