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Big Law

Burger King Owner Restaurant Brands Buys the Chain’s Largest U.S. Franchisee for About $1 Billion

Restaurant Brands International is buying Carrols Restaurant Group, the largest Burger King franchisee in the U.S., for about $1 billion in cash.

Restaurant Brands will pay $9.55 per share to acquire Carrols, which operates more than 1,000 Burger King restaurants and 60 Popeyes locations. Carrols’ stock closed at $8.42 on Friday, giving it a market value of $459 million. The company’s shares closed up 12% on Tuesday, while Restaurant Brands’ stock fell 3%.

The deal is expected to be completed by the second quarter of 2024.

Read the source article at CNBC

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