Burger King sold to 3G Capital

Hamburger restaurant giant Burger King has been bought out by Brazilian-backed private equity firm 3G Capital in a deal worth $4bn.

The definitive agreement, under which affiliates of 3G Capital will acquire the stock of Burger King Holdings for $24 per share, or $4bn, includes the assumption of the burger chain’s outstanding debt.

Under the terms of the agreement, which has been unanimously approved by the Company’s Board of Directors, stockholders will receive $24 in cash per share for all outstanding shares of the company’s common stock.

3G Capital managing partner Alex Behring said: “We have great respect for the Burger King brand and the strong business that management, the employees and the franchisees have built. The iconic Burger King brand, its solid franchisee network and great product offerings make this a perfect fit for 3G Capital, which has a strong track record of long-term investments in global consumer brands and retail companies. We are excited to work together with the company’s employees and franchisees to continue to invest in the brand for the benefit of all its guests, employees and franchisees.”

3G Capital is a multi-billion dollar, global investment firm, focused on long-term value creation, with “a particular emphasis on maximising the potential of brands and businesses”. Affiliates of the firm and its partners have controlling or partial ownership stakes in global companies such as Anheuser-Busch InBev, Lojas Americanas, the largest non-food and online retailer in Latin America, and America Latina Logistica (ALL), the largest railroad and logistics company in Latin America.

One of the Brazilian investors is said to be billionaire Jorge Paulo Lehmann who made his money through banking and brewing.

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