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Article: Burger King acquires 57 restaurants; acquisition underscores company's commitment to growth.
- Article from:
- Business Wire
- Article date:
- January 31, 1996
CopyrightCOPYRIGHT 1996 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MIAMI--(BUSINESS WIRE)--Jan. 31, 1996--Burger King Corp. announced Wednesday the acquisition of 57 Burger King(r) restaurants from Davgar Restaurants Inc. in Florida and Georgia.
The $55.6 million purchase from Davgar owner Manuel Garcia, represents one of the largest acquisitions in the company's history.
"This investment reinforces our strategy of developing the system through both company owned and franchised restaurants and underscores our commitment to the long-term growth of Burger King(r)," said Robert C. Lowes, chairman and chief executive officer, Burger King Corp.
The strategic refranchising program of certain Burger King(r) restaurants ...