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Burger King sold to 3G for US$3.2b

Burger King has been sold to private equity firm 3G Capital in a deal valued at US$3.26 billion. The fast-food chain, with 12,100 outlets worldwide, had been the subject of takeover rumours for weeks.
Western Investor Staff
Burger King has been sold to private equity firm 3G Capital in a deal valued at US$3.26 billion. The fast-food chain, with 12,100 outlets worldwide, had been the subject of takeover rumours for weeks.

3G will also take on Burger King's debt, valuing the deal at US$4 billion in total.

Burger King, the second-largest hamburger chain behind McDonald's, has struggled during the recession and had recently forecast weak demand for the rest of the year.

It is unclear what plans 3G has for Burger King, and there was no mention of strategy in its takeover announcement.

New York-based 3G is backed by Brazilian billionaire Jorge Paulo Lemann and two of his longtime business partners, Marcel Telles and Carlos Alberto Sicupira.

- Kevan O'Brien

from Western Investor, October 2010