James McLamore and David Edgerton founded Burger King in 1954 in Jacksonville, Florida. Currently the chain serves more than 11 million customers through more than 13,000 outlets in 79 countries. The company’s ownership changed several times over the years until going public in 2002 by TPG Capital and Goldman Sachs Capital Partners. In 2010, 3G Capital of Brazil acquires majority share of the chain and converts it to a private company again. 3G Capital currently owns 71% of the company and two other investors own the rest. In June of 2013, 3G Capital and Berkshire Hathaway acquired Heinz Company. Bernando Hees was appointed as the new CEO of Heinz after the acquisition. Mr. Hees served as the CEO of Burger King in the past and still is a board member of the chain. The appointment caused a major shakeup in the ketchup supply in McDonald’s. McDonald’s considered the purchase of Heinz and appointing a board member of a major competitor as a threat which led to seizing the supply of Heinz ketchup in all of its stores.
Global Markets
• 29 Aug, 2015
