Burger King 'in sale talks'
Published 01/09/2010 | 11:54
Fast food restaurant Burger King is in talks with private equity firms for a potential sale, it was reported today.
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.