Tuesday 6 December 2016

Burger King 'in sale talks'

Published 01/09/2010 | 11:54

Burker King currently operates more than 12,000 restaurants worldwide in more than 75 countries. Photo: Getty Images
Burker King currently operates more than 12,000 restaurants worldwide in more than 75 countries. Photo: Getty Images

Fast food restaurant Burger King is in talks with private equity firms for a potential sale, it was reported today.

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The company, which has a market value of about $2.3bn (€1.8bn), has recently reported falling sales across the world.

Burger King has been in talks for several weeks with a number of potential buyers, including British company 3i Group, the Wall Street Journal claimed. 3i declined to comment.

The home of the Whopper and Chicken Royale last week reported a drop of 2.3pc in its global sales for its 2010 financial year, compared to a 1.2pc gain last year.

It also posted a 3.9pc fall in US and Canada sales, compared to an 0.4pc increase in the same period last year.

The 55-year-old chain has been owned by buyout specialists before - it was bought from Diageo in 2002 by Texas Pacific, Bain Capital and Goldman Sachs in a deal worth $1.5bn (€1.17bn).

The trio floated the Miami-based company four years later and still own just under a third of it.

The fast-food chain currently operates more than 12,000 restaurants worldwide in more than 75 countries.

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