Burger King was initially taken private in July 2002 by a trio of private equity firms. Burger King went public through an IPO in May 2006, but despite a series of successful commercials starring its namesake, the Miami-based company has lagged behind fast food industry leader McDonald’s.
Burger King has more than 12,100 locations around the world, one-third of its total, and chain officials hope that the deal will help it expand more rapidly overseas. Analysts say it needs a new approach, including becoming more efficient and differentiating itself from McDonald’s with new menu items.
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