High In The Air

3G Capital to buy Burger King

Burger King

Fast food chain Burger King is being sold to 3G Capital in a deal said to be valued at $3.26bn (£2.1bn). Burger King Holdings Inc , the No. 2 US fast-food chain, agreed to be bought by investment firm 3G Capital.

New-York based 3G will assume, the deal is worth about $4 billion. Burger King is the second-largest US hamburger chain following its far-larger rival McDonald’s Corp. Burger King often abbreviated as BK, is a global chain of hamburger fast food restaurants headquartered in unincorporated Miami-Dade County, Florida, United States.

Burger King has struggled because its key customer base has taken a deeper hit from tirelessly high unemployment rates. Burger King’s chairman John Chidsey will become co-chairman of the board.