Zamp

What Zamp does

Zamp (legal name BK Brasil Operação e Assessoria a Restaurantes S.A., ticker BKBR3) is the largest restaurant operator in Latin America by unit count and gross sales, functioning as the master franchisee for four major international quick-service and fast-casual brands in Brazil: Burger King (flame-grilled hamburgers), Popeyes (Louisiana-style fried chicken), Subway (submarine sandwiches), and Starbucks (coffee and café beverages). As of 2025, Zamp operates 2,645 restaurant units across Brazil, of which 1,751 are franchised, generating R$ 9.8 billion in consolidated gross sales. The company is headquartered in Barueri, Brazil, is listed on B3's Novo Mercado (the highest corporate-governance tier), and is controlled by Mubadala Capital through MIC Capital Partners.

The company's business model is a hybrid of direct operation and franchising. Zamp earns revenue through company-operated restaurant sales, royalties and fees from its 1,751 franchised locations, and increasingly through digital ordering channels that now account for 57.1% of sales. The four-brand portfolio is positioned as a diversified, multi-daypart ecosystem targeting the general Brazilian consumer for dine-in, delivery, and on-the-go occasions. Customers are individual end-consumers across Brazil, while franchisees serve as the company's B2B counterparties for unit expansion. Approximately 86% of restaurant managers are promoted internally, indicating an operationally mature workforce.

In 2024 Zamp executed two transformational acquisitions — Starbucks Brazil from SouthRock Capital (closed October 2024) and Subway Brazil following the prior operator's bankruptcy (closed October 2024, agreement signed September 2024 subject to CADE approval) — alongside a CEO transition to Paulo Camargo and a capital increase via retained earnings. The company's technology stack is centered on digital ordering apps and a consolidated supply-chain/logistics network; ESG investments include solar power generation, 100% frying-oil recycling, and consolidated logistics to reduce delivery emissions. Zamp has 10,000+ employees and maintains a whistleblower channel operated by ICTS. The financial profile shows strong top-line growth with persistently negative net income, suggesting an investment-and-integration phase rather than steady-state profitability.

Name

Zamp

Legal name

BK Brasil Operação e Assessoria a Restaurantes S.A.

Website

https://www.zamp.com.br/

Company type

Public

Founded year

2011

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Zamp is the largest restaurant operator in Latin America, serving as master franchisee for Burger King, Popeyes, Subway, and Starbucks in Brazil across 2,645 units and R$ 9.8 billion in 2025 gross sales, targeting individual Brazilian consumers through dine-in, delivery, and digital channels.

Ownership category

akta.pro rank

Product category

Quick-Service Restaurant Operations

SIC

Retail-Eating & Drinking Places (5810)

akta.pro primary industry

Multi-Concept / Global QSR Chains (Mixed Menus) (THAFAAAO)

Keywords

• Restaurant franchise operations
• Quick-service restaurants
• Master franchisee
• Fast food chains
• Food service ecosystem

Headquarters

HQ city

Barueri

HQ country

Brazil

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Franchise Operations: Zamp operates as a master franchisee for Burger King, Popeyes, Subway, and Starbucks in Brazil. Revenue is generated through company-owned restaurant operations and franchise royalties from 1,751 franchised locations.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels2 records

Core offering

Zamp is a restaurant franchise operator and master franchisee managing multiple international quick-service and fast-casual restaurant brands in Brazil. The company operates as a platform holding four distinct brand portfolios: Burger King (flame-grilled hamburgers), Popeyes (Louisiana-style fried chicken), Subway (submarine sandwiches), and Starbucks (coffee and café beverages). As of 2025, the consolidated base includes 2,645 restaurant units with 1,751 franchised locations, generating R$ 9.8 billion in gross sales.

Product overview

Zamp is a restaurant franchise operator and master franchisee managing multiple international quick-service and fast-casual restaurant brands in Brazil. The company operates as a platform holding four distinct brand portfolios: Burger King (flame-grilled hamburgers), Popeyes (Louisiana-style fried chicken), Subway (submarine sandwiches), and Starbucks (coffee and café beverages). As of 2025, the consolidated base includes 2,645 restaurant units in operation with 1,751 franchised restaurants, generating R$ 9.8 billion in gross sales. The company is listed on B3's Novo Mercado (highest corporate governance level) under ticker BKBR3. Recent expansions include acquiring Starbucks and Subway operations in Brazil in 2024.

Differentiator

Problem solved

Functional benefit

Brands

• Burger King: Fast-food hamburger chain operated by Zamp in Brazil
• Popeyes
• Subway
• Starbucks

Products and services

• Burger King

Quantifiable outcome

• 57.1% of sales through digital channels

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered core and minor.

• SubwaycoreStrategic or Co-development Partner · 16 October 2024Closing of Subway operation deal completed in October 2024, expanding Zamp's presence in the submarine sandwich segment.
• SouthRock CapitalcoreStrategic or Co-development Partner · 10 October 2024Zamp completed acquisition of Starbucks Brazil operations from SouthRock Capital in October 2024, expanding its brand portfolio to include Starbucks.
• SubwaycoreStrategic or Co-development Partner · 16 September 2024Zamp signed agreement to operate Subway restaurants across Brazil following the previous operator's bankruptcy filing, pending antitrust regulator approval.
• ICT SminorOthersIndependent company maintaining Zamp's confidential reporting channel for whistleblower complaints, operating 24/7.
• Photovoltaic Energy PartnersminorStrategic or Co-development PartnerPartnership for construction of solar power plants to generate clean renewable energy, projected to reduce CO2 emissions by 270,000 tons annually.
• Accredited Oil Recycling PartnersminorStrategic or Co-development PartnerPartners that collect and 100% recycle frying oils used in restaurants, ensuring proper environmental disposal.
• Logistics OperatorminorOthersSingle logistics operator for restaurant supply chain, reducing carbon emissions from daily deliveries.

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Arcos Dorados Holdings: Master franchisee of McDonald's across 20 Latin American countries including Brazil. Directly comparable as a multi-country QSR master franchise operator in the same geography with a similar asset-light franchise-heavy model.

Broad incumbents

• Restaurant Brands International: Parent company of Burger King, Popeyes, and Tim Hortons — two of Zamp's four core brands. Directly comparable as the brand owner and licensor whose franchise economics drive Zamp's master franchise relationships.
• Starbucks Corporation: Owner of the Starbucks brand that Zamp now operates in Brazil. Comparable as the global coffee QSR incumbent whose brand and operating standards Zamp must execute against.
• Yum China Holdings: Largest restaurant company in China operating KFC, Pizza Hut, and Taco Bell under exclusive licenses. Comparable as a large-scale exclusive-license QSR operator with a digital-first strategy and strong franchise/company-store hybrid model.
• Burger King Corporation: Direct subsidiary of RBI and the original brand owner from which Zamp's business was built. Comparable as the global brand incumbent whose operating standards and marketing engine Zamp must deploy in Brazil.
• Subway: Brand owner of the Subway chain that Zamp now operates in Brazil. Comparable as the global sandwich QSR incumbent whose brand and franchise system Zamp must administer after the 2024 acquisition.
• Domino's Pizza: Global pizza QSR chain with strong digital ordering penetration. Comparable to Zamp's brands as a delivery-and-digital-heavy global QSR operator that competes for share of stomach in Brazil.

Regional players

• Alsea: Mexican multi-brand restaurant operator running Domino's, Starbucks, Burger King, and other brands across Latin America and Europe. Comparable as a LatAm multi-brand QSR and coffee operator with shared master-franchise dynamics.

Emerging players

• Jubilant FoodWorks: Master franchisee for Domino's Pizza and Dunkin' in India. Comparable as an emerging-market QSR master franchisee scaling digital channels and a multi-brand strategy, though smaller and earlier-stage than Zamp.
• Devyani International: Indian operator of KFC, Pizza Hut, and Costa Coffee. Comparable as an emerging-market multi-brand master franchisee combining QSR and coffee, similar to Zamp's four-brand Brazilian portfolio.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/zamp
• Xx.com/BurgerKingBR
• Facebookfacebook.com/BurgerKingBrasil

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Zamp