BK IPO
Acronyms aside, it appears that the number 2 burger chain is about to go public. Currently owned by Fort Worth, Texas based Texas Pacific Group (along with Bain Capital and Goldman Sachs Capital Partners), Burger King is planning to offer stock for sale in late February or early March.
Texas Pacific bought BK from the drinks producer Diageo three years ago for $1.2 billion in cash and $300 million in debt.
The cash generated by the IPO could be used to improve existing restaurants and create new menu items in a bid to compete with #1 McDonald's.
Texas Pacific bought BK from the drinks producer Diageo three years ago for $1.2 billion in cash and $300 million in debt.
The cash generated by the IPO could be used to improve existing restaurants and create new menu items in a bid to compete with #1 McDonald's.
[ABC - Ft. Worth ST]
Labels: Burger King
posted by Ken at 8:38 AM
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