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Carrols Restaurant Group

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business2 years ago

"Restaurant Brands Acquires Burger King's Largest U.S. Franchisee for $1 Billion"

Restaurant Brands International, the parent company of Burger King, is acquiring Carrols Restaurant Group, the largest U.S. franchisee of Burger King, for $1 billion in an all-cash transaction. This move is part of Burger King's "Reclaim the Flame" plan to revamp its brand in America by transitioning to local franchisees and refurbishing restaurant locations. The acquisition will involve investing $500 million to modernize 600 restaurants and increasing the number of Burger King U.S. franchisees to 400-500 in the next five years. The transaction is expected to be completed in the second quarter of 2024.

via Fox Business|
#burger-king#business#carrols-restaurant-group
business2 years ago

Restaurant Brands Acquires Burger King's Largest US Franchisee for $1 Billion

Restaurant Brands International, the owner of Burger King, is set to acquire Carrols Restaurant Group, the largest franchisee of Burger King in the US, for $1 billion in cash. The deal includes 1,022 Burger King restaurants and 60 Popeyes locations, with plans to remodel acquired restaurants over the next five years. This acquisition is part of RBI's strategy to drive sales growth and franchisee profitability, with the transaction expected to be finalized in the second quarter of 2024.

via New York Post |
#acquisition#burger-king#business
business2 years ago

"Burger King Owner Acquires Largest U.S. Franchisee for $1 Billion"

Restaurant Brands International is acquiring Carrols Restaurant Group, the largest Burger King franchisee in the U.S., for about $1 billion in cash. This move marks a shift in strategy for Burger King, which has been almost entirely franchised for the last decade. The acquisition is part of a $400 million plan to revive Burger King's U.S. business, focusing on investing in restaurant remodels and advertising to drive demand and boost franchisee profits. Restaurant Brands plans to rapidly remodel 600 of Carrols' Burger King locations over the next five years and then sell them back to franchisees, with the goal of holding onto a couple hundred restaurants for strategic innovation, training, and operator development purposes.

via CNBC|
#acquisition#burger-king#business
business2 years ago

Restaurant Brands International Acquires Burger King's Largest U.S. Franchisee for $1 Billion

Restaurant Brands International, the owner of Burger King, plans to acquire its largest US franchisee, Carrols Restaurant Group, for about $1 billion in cash. The acquisition aims to expedite the renovation of hundreds of locations and revitalize the brand's customer base. Following the purchase, Restaurant Brands intends to invest in technology, increase advertising spending, and enhance the in-store customer experience to reverse declining sales. The deal includes a plan to remodel 600 of Carrols' over 1,000 locations and subsequently refranchise most of the stores to new or existing smaller franchisee owners.

via Yahoo Finance|
#burger-king#business#carrols-restaurant-group