Carrols acquires 43 BK restaurants
Dec. 21, 2016
by MEAT+POULTRY Staff
SYRACUSE, NY – Carrols Restaurant Groups Inc., the largest franchisee of Burger King restaurants, recently acquired 43 Burger King units from GPS Hospitality. The restaurants are in Cincinnati.
Carrols expects the transaction to close in January 2017, subject to customary closing conditions. The company did not disclose the transaction amount.
“We continue to effectively execute our acquisition growth strategy, and in 2016 have completed the acquisition and integration of 56 Burger King restaurants,” Carrols CEO Daniel T. Accordino said in a statement. “We are pleased to be concluding another productive year of growth with a definitive agreement to purchase these additional 43 Burger King restaurants. This transaction gives us a good start for 2017 and provides us with a strong foothold in the greater Cincinnati market.
“Looking ahead, we remain confident in our ability to enhance long-term shareholder value through our ongoing acquisition strategy,” he added.
In November, Carrols acquired 17 Burger King units in the Pittsburgh and Johnstown markets in Pennsylvania, and another four restaurants in Detroit in July. As of Dec. 21, the company owned 762 Burger King restaurants.