Burger King, despite publicity stunts like the Windows 7 burger, interesting food innovations like the Crazy Whopper, and specialty restaurant brands like the Whopper Bar, just can’t seem to get past being second best. Long the #2 fast food chain in the US after McDonald’s, BK has been trying just about anything it can to increase its market share. Now, they’re trying a new tactic. Burger King is going private after having been bought outright by 3G Capital for a staggering $3.3 billion dollars, or $24 per share of stock.
This move will more than likely become a trend, thanks to the current economic climate. “I definitely expect more deals – whether private to private, public to private, or private to public,” said analyst Steve West of Stifel, Nicolaus & Co. “Probably all three.” Other potential moves might be a takeover of Jack in the Box, which owns both Jack in the Box and 500 Qdoba Mexican Grill restaurants.
No word on whether or not the New York Pizza Burger is going to be safe.
Tags: Burger King, 3G Capital, Burger King sold for .3 billion dollars, Burger King goes private, fast food, Burger King bought by 3G Capital, private equity firm, Burger King sold, Steve West, Stifel Nicolaus & Company