Burger King sold for $2.26-billion (U.S.)

[nicholmere]

Burger King sold for $2.26-billion (U.S.)


Drinks giant Diageo PLC said Thursday it has sold its Burger King chain to a consortium led by Texas Pacific Group for $2.26-billion (U.S.), a move that puts the chain into the hands of one of the world's top turnaround specialists.


That's a lot of burgers.

[poseidon]

Originally posted by nicholmere
Burger King sold for $2.26-billion (U.S.)


Drinks giant Diageo PLC said Thursday it has sold its Burger King chain to a consortium led by Texas Pacific Group for $2.26-billion (U.S.), a move that puts the chain into the hands of one of the world's top turnaround specialists.


That's a lot of burgers.

In Colorado, Burger King is a small-steaks (err... stakes) player. Whereas there are about ten or twelve Mickey Dees in about a five-mile radius of my home, there are only two BK Steakhouse.

It's not just my neighborhood.

Here's some statistics, thanks to the soon-to-be-sold www.qwestdex.com (Ride the Light, 'cause that's all they own anymore):

In the metro-Denver area (which is huge), there are:

26 Burger King listings
56 McDonalds
5 Carl's Jr.
16 Good Times (a local company that is in the burger biz)
32 Wendys
6 Sonic

That would put, in the Denver area, BK Steakhouse at #3, Wendys at #2 and McDonalds at #1... and, on top of that, BK is getting close to being overrun by an upstart Colorado company called Good Times.

Is it a good buy? I'm not sure... that depends on what the investors are looking to do with Burger King.

Is Burger King the king? Not in Denver.

[kurt_messick]

My sense is that Burger King isn't number one in any market.

BK has done several things in the past decade. They had a 'healthy choice' menu that I liked, but they did away with that. They did away with a lot of small items I liked. There are twice as It is interesting that there are the same number of McDonald's as there are Burger Kings in Bloomington, but McDonald's is still the run-away winner in volume here.

[Redlass]

Give me a choice between Burger King and McDonalds and it is Burger King every time. But that is just personal taste and food preferences.

But I've watched them decline pretty steadily for the past several years. I have to search to find one now--where it used to be easy. I doubt they'd be able to overtake McDonalds, but given how strong that company is, a strong second ought still be enough to keep them profitable.

[magenta321]

Yummmmmm Burger King.

I wish we had one in my town. Zoning won't allow it. No McDs either.

I loooooove BK tho. Will pass on McD.

[frazzledspice]

McDonald's has been struggling financially for quite some time, and their profits aren't anywhere near as healthy as they once were.

Perhaps the time is ripe for new ownership to revitalize BK and increase the competition.

However, I am almost always opposed to corporate takeovers, as our lives and livelihoods, as well as the lives and livelihoods of numerous friends and family members, have been so disrupted and torn apart by capricious mergers.

Is there no morality in corporate America?

[lynnzop[$]]

Gee Maryanne, my hubby would be out of a job if it weren't for a corporate takeover. A tired, worn out division was bought out by a company who is actually making some progress and improvements.

It was nothing but a good thing for us. I don't think you can lump all corporate take overs as evil and immoral.

Back to BK...I much prefer BK over McDonalds. If I'm going to eat fast food, BK has better choices, cooks (slightly ) healthier, prices are same as McDonalds. And where I live, they are as plentiful as McDonalds.

Lynn

[frazzledspice]

I did say almost always. I know that there are a lucky few who survive the carnage of corporate mergers and takeovers.

My sister did--four times. She works in the banking industry. She has even survived the downsizings--so far.

If she were wearing a special amulet, we would certainly run out and buy some for ourselves and everyone else we knew, but I think it's just been blind luck.

[Joubert[$]]

Originally posted by frazzledspice

Is there no morality in corporate America?

Main Entry: mo·ral·i·ty
Pronunciation: m&-'ra-l&-tE, mo-
Function: noun
Inflected Form(s): plural -ties
Date: 14th century
1 a : a moral discourse, statement, or lesson b : a literary or other imaginative work teaching a moral lesson
2 a : a doctrine or system of moral conduct b plural : particular moral principles or rules of conduct
3 : conformity to ideals of right human conduct
4 : moral conduct : VIRTUE


Yes, I believe there is morality. Based on the generalization of "corporate America", which we'll just leave at the top 2000 public companies for now, I would say that a high degree of morality exists.

May I suggest that morality is often counter-balanced with exigency?

[mjfrombuffalo[$]]

What ever happened to Arby's? I used to LOVE Arby's and now I don't know of any in Long Island and only one in Manhattan (down by Wall Street). Arthur Treacher's is AWOL too. I'd rather have either of those than McDonald's, and I'll do Burger King or Taco Bell if they're available.

[Joubert[$]]

Arby's is still around. Their parent company owns TJ Cinnamons and Pasta Connection.

They are actively seeking franchisees and their web site states, "We are targeting development in the following areas: California, New York, Mississippi, Louisiana, Texas, Virginia, Florida, Massachusetts, Rhode Island, Vermont, New Hampshire and Maine"

So, hang tight, MJ. They're looking at Noo Yawk.

[jenninca]

I actually tried out that link of Poseidon's. I started off searching the whole DFW area but that was taking forever. Arby's does have 44 restaurants in the DFW area. But in my "little suburb" (around 250,000 ), we've got the following (only restaurants that have three or more locations):

McDonald's - 12
Subway - 9
Burger King, Papa John's, Sonic, Wendy's - 6
Chick-fil-a, Domino's, KFC, Schlotzsky's, Taco Bueno - 4
Arby's, Boston Market, Cici's Pizza, Quizno's, Whataburger - 3

So Burger King seems to be doing a fine business around here.

Cindy