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Article: Burger King is cooking up its own public offering
- Article from:
- Chicago Sun-Times
- Article date:
- February 2, 2006
- Author:
CopyrightCopyright 2006 Chicago Sun-Times. (Hide copyright information)
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Burger King Corp. plans to sell shares to the public for the first
time, allowing its private equity owners to cash out three years
after buying the company for $1.5 billion.
Plans for an initial public offering will be filed later this
month or next month, Miami-based Burger King said in a statement.
Texas Pacific Group, Bain Capital and Goldman Sachs Capital Partners
purchased Burger King from Diageo Plc in December 2002. The company
was founded in 1954 and has 11,000 restaurants.
Burger King is losing market share to McDonald's Corp. and Wendy's
International Inc. as Burger King's new menu items and ads have
failed to lure customers. Burger King's share declined from 1999 to
2004, ...