Squirrel rises 7% on the stock market after announcing it will manage RBE's advertising.
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Squirrel Media shares soared 7.8% on the Madrid Stock Exchange after announcing that its subsidiary IKI Group will exclusively manage the advertising investment for Restaurant Brands Europe (RBE), which holds the master franchise rights for Burger King, Popeyes, and Tim Hortons in Spain, Portugal, and Italy , for the next four years. Squirrel shares, priced at €2.21 per share, soared by over 11% following the announcement.
In 2024, RBE achieved gross revenue of €1.85 billion through its network of more than 1,350 restaurants across its three brands (of which more than 1,050 are company-owned establishments and the rest are operated by franchisees), and generates more than 40,000 jobs across the three markets.
The contract with Squirrel provides for the comprehensive management of all RBE advertising and communications investment for at least the next four years . "This agreement represents a strategic milestone for Squirrel's Media division, both for its economic impact and for the access to another leading institutional client," the company emphasized, noting that this division "is consolidating its position as one of the largest global advertising multinationals ."
In line with this transaction and in line with the group's strategy, Squirrel's Media division has strengthened its structures, technological-operational capabilities, and customer service in recent years, "incorporating top-tier assets and talent both nationally and internationally," the company emphasized.
Squirrel will also make available to RBE the combined capabilities of all the group's companies and verticals to enhance the growth and scalability of its project.
Squirrel Media shares soared 7.8% on the Madrid Stock Exchange after announcing that its subsidiary IKI Group will exclusively manage the advertising investment for Restaurant Brands Europe (RBE), which holds the master franchise rights for Burger King, Popeyes, and Tim Hortons in Spain, Portugal, and Italy , for the next four years. Squirrel shares, priced at €2.21 per share, soared by over 11% following the announcement.
El Confidencial
