The iconic fast food chain has been sold to the private equity firm 3G Capital in a deal worth approximately £2.1bn. 3G are based in New York and are substantially backed by the Brazilian billionaire Jorge Paulo Lemann.
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One of the conditions of the deal is that Burger King’s chairman and chief executive John Chidsey will become co-chairman of the new board. Alex Behring, who is the current managing partner of US-based 3G, will be the other co-chairman. 3G owns controlling or partial stakes in brewer Anheuser-Busch InBev, Lojas Americanas (a non-food and online retailer in the lucrative Latin American online market), and America Latina Logistica (the largest railroad and logistics company in Latin America).
Recently Burger King, with 12,100 outlets worldwide, has been the subject of takeover rumours due to relatively poor results due in no small part to the economic downturn experienced worldwide. 
The deal, reported to be worth £15.50 a share, comes after Burger King’s stock price surged due to recent takeover speculation.
Burger King, the second largest hamburger chain behind McDonald’s, has found itself struggling during the recession and as recently as last week forecast weak demand for the rest of this year.
Miami-based Burger King’s core customers are traditionally young men between 18 and 34, a demographic which has been particularly badly hit by surging unemployment levels.
3G’s plans for Burger King are not clear, and during the takeover announcement, there was no discussion about future strategies.
Industry and business analysts are of the opinion that Burger King’s menu is in drastic need of an overhaul, and they need to expand internationally.
It has been suggested that the best way forward is for Burger King to work with their large group of franchise owners to brighten their locations. This is because improved restaurant assets are seen as key to stabilising sales, something that could take several years and will most likely involve significant reinvestment in assets.
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