Acquisition of Burger King Holdings Inc. completed
October 20, 2010
by Meat&Poultry Staff
MIAMI – Burger King Holdings Inc. and 3G Capital have completed the previously announced transaction for an affiliate of 3G Capital to acquire the BKHI for $24.00 per share in cash, or approximately $4.0 billion in the aggregate, including the assumption of outstanding debt.
Bernardo Hees will become CEO of BKHI and Alexandre Behring, managing partner of 3G Capital, will assume the position of co-chairman of the Board of BKHI effective immediately, alongside John Chidsey, the company’s chairman and CEO prior to the completion of the transaction.
“We are thrilled to complete this transaction and eager to continue building the Burger King brand and enhance the guest experience in our restaurants all over the world,” Hees said. “We see many exciting opportunities for this business, including developing new product offerings and expanding the brand internationally.
“We believe the early success of the new BK Breakfast menu demonstrates the efforts and strength of our franchise network in the US,” he added. “We also are looking forward to collaborating closely with our international franchisees in pursuit of growth in areas such as Asia and Latin America. Together with the talented pool of colleagues at the Company and our franchisees, I am excited to work toward reaching the full potential of the iconic and world-renowned Burger King brand.”