Burger King (Miami) could receive its second new owner in eight years, as the fast-food chain has agreed to sell itself to an investment firm according to The New York Times.
The potential new owner, 3G Capital, is an investment firm with roots in Brazil. The deal valued at $4 billion, includes the assumption of debt.
The firm plans to expand Burger King’s presence internationally, especially in Latin America and Asia. “The iconic Burger King brand, its solid franchisee network and great product offerings make this a perfect fit for 3G Capital,” Alexandre Behring, 3G’s managing partner, said in a statement.
In 2002, the fast-food giant was taken private by three buyout firms, TPG Capital, Bain Capital and Goldman Sachs’s private equity unit, but returned to the public markets in 2006.