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Private equity firm buys Burger King


Private equity firm buys Burger King


Burger King has agreed to be bought by New-York based investment firm 3G Capital for the equivalent of 2.5 billion euros.

The second largest US fast-food chain has lagged behind McDonald’s and other rivals as its key customer base has taken a deeper hit from persistently high unemployment rates in the states.

Analysts said the deal should give the group breathing room to fix its business.

The price represents a 46 percent premium to what Burger King was trading at before news of the deal talks emerged on Wednesday.

“It looks like a good price for Burger King shareholders. I don’t anticipate that someone is going to come in higher,” said Telsey Advisory Group analyst Tom Forte.

Including the debt that 3G will take on, the deal is worth around three billion euros.

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