• Burger King sale makes Domino's a corporate cousin

LONDON -- The Associated Press has reported that Diageo PLC has agreed to sell Burger King Corp. for $2.26 billion in cash.

The buyer is a consortium of U.S. venture capital firms led by Texas Pacific Group and includes Boston-based Bain Capital, which owns Ann Arbor, Mich.-based Domino's Pizza. Goldman Sachs is the third firm in the consortium.

Once completed, the sale will allow Diageo to focus solely on its alcoholic beverage business. The company's best-known brands include Johnnie Walker scotch, Guinness beers and Bailey's Irish Cream liqueur.

Sources close to the story believe Texas Pacific officials' close ties with senior executives at Burger King, plus Bain's fast-food experience through Domino's gave the group an advantage over other bidders.

Second only to McDonald's, Burger King has more than 11,435 restaurants worldwide.

According to the AP, Burger King's franchisees have long wanted to split from Diaego. More than a year ago, BK chief executive John Dasburg stated that officials at the fast-food chain had talked with a leveraged buyout firm, but no deal was ever announced.

In a release from Burger King, Dasburg said he and the company's executive team fully support the selection of the buying consortium.

Related Content

User Comments – Give us your opinion!
Products & Services

PeopleMatter HIRE™

http://global.networldalliance.com/new/images/products/4625.png

4625/PeopleMatter-HIRE

Customized Menu Board Content

http://global.networldalliance.com/new/images/products/6689.png

6689/Customized-Menu-Board-Content

PCI Compliance Managed Network Services

http://global.networldalliance.com/new/images/products/4123.png

4123/PCI-Compliance-Managed-Network-Services

Online Ordering

http://global.networldalliance.com/new/images/products/5931.png

5931/Online-Ordering

Cured Meats

http://global.networldalliance.com/new/images/products/6791.png

6791/Cured-Meats

Solutions

http://global.networldalliance.com/new/images/products/4551.png

4551/Solutions

HAND-PINCHED STYLE® Sausage and Beef Toppings

http://global.networldalliance.com/new/images/products/6785.png

6785/HAND-PINCHED-STYLE-Sausage-and-Beef-Toppings

Quad Core Menu Board Media Player - $199

http://global.networldalliance.com/new/images/products/6679.png

6679/Quad-Core-Menu-Board-Media-Player-199

Custom Digital Signage Templates

http://global.networldalliance.com/new/images/products/6683.png

6683/Custom-Digital-Signage-Templates

Pepperoni

http://global.networldalliance.com/new/images/products/6787.png

6787/Pepperoni

Digital Menu Boards and ROI
Fast Casual Executive Summit
Request Information From Suppliers
Save time looking for suppliers. Complete this form to submit a Request for Information to our entire network of partners.