As predicted [WAMN: 24-Jul-02], Diageo and venture capital firm Texas Pacific have inked the sale of the globe’s second largest fast food chain Burger King. Also involved in the purchase are Bain Capital and Goldman Sachs Capital Partners.
The $2.26 billion (€2.26bn; £1.43bn) acquisition requires regulatory approval, subject to which completion is expected is expected by the year end. All key BK executives have signified their willingness to remain with the comapny.
As at December 31 last, Burger King had net assets of $2.2bn excluding inter company balances and net borrowings.
Data sourced from: Financial Times; additional content by WARC staff