LONDON -- Domino's Pizza's parent company is interested in adding a burger chain to its fast-food portfolio.
According to the business news Web site, Scottsman.com, Boston-based Bain Capital has approached London-based Diageo, PLC about buying Burger King, the world's second-largest burger chain. According to published reports, the sale could yield between $2 billion and $3 billion.
Bain paid $1 billion for a 93-percent stake in Domino's Pizza in 1998. Thomas Monaghan, the pizza chain's founder, owns the remaining 7 percent.
According to a Dow Jones Newswires report, in addition to Bain, private equity houses Blackstone Group and Texas Pacific Group are among a number of companies that have expressed interest in Burger King.
According to an unnamed source in the Dow Jones report, Diageo adviser Greenhill & Co. expects that finding a buyer could take between six and 12 months. Additionally, a spokeswoman for Diageo declined to comment on media reports about potential buyers, saying the process is ongoing.
In addition to its ownership of Burger King, Diageo is one of the world's largest providers of premium alcoholic beverages.
User Comments