Burger King — the nation’s number two fast-food chain, trailing only McDonald’s — has officially sold itself to investment firm 3G Capital, Reuters reports. Rumors that the acquisition was in the advanced stage started circulating yesterday. This isn’t 3G’s first foray into fast food. The firm has previously owned 4.2 million shares in Wendy’s. The deal was cut for a cool $3.26 billion, which comes out to $24 a share.
Though short on details, Burger King Chairman and Chief Executive John Chidsey did mention to Reuters that the talks began “out of the blue.” Chidsey will retain both positions for the time being, but 3G Managing Director Alex Behring will soon be signing on as co-chairman.
One of 3G’s backers is Brazilian billionaire Jorge Paulo Lemann, who sits on the board of Anheuser-Busch’s parent company InBev. This connection will probably lead to an explosion of Whopper Bar locations worldwide, every one of them stocked with cheap Budweiser. Because, really, what’s a 2530-calorie Meat Beast burger without a cold brew?
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