Restaurant Brands International, the owner of Burger King, has agreed to acquire Carrols Restaurant Group, its largest U.S. franchisee, for approximately $1 billion. The transaction is structured as an all-cash deal, with Carrols' shareholders receiving $9.55 per share, representing a 13.4% premium. Carrols Restaurant Group, a publicly traded company, was the best performing restaurant stock in 2023 with its valuation increasing nearly 500%. As part of the acquisition, Burger King plans to remodel and then refranchise the Carrols locations. This strategic move is seen as a comeback strategy to revitalize the Burger King brand by renovating hundreds of stores. The deal values Carrols at 6.4x EBITDA for 2025 estimates, with a 5% arbitrage yield and an implied 89% odds of success.
Burger King owner will buy out its biggest franchisee in US for about $1 billion https://t.co/d57iMHi5M6
$QSR announced the acquisition of the largest US franchisee of Burger King $TAST This comeback strategy aims to revive BK's business by remodeling hundreds of locations. @HowardWPenney dove into the details of the deal on "The Consumables Show" 🔗https://t.co/JQ8eKu6p2v https://t.co/gKiKffNTXs
Your local Burger King might look a bit fresher, faster, following a $1 billion deal announced by BK parent Restaurant Brands International https://t.co/uAjc4CEUGm https://t.co/uAjc4CEUGm
➡️ M&A Deal Sheet⬅️ Carrols Restaurant Group $TAST to be acquired by Restaurant Brands International $QSR for $9.55 cash per share, 13.4% premium, $1.0 billion, 6.4x EBITDA (2025E) Trading at a 5% arbitrage yield and an implied 89% odds of success https://t.co/uNWEr7ADPj https://t.co/7gbX0KdTa5
Burger King's parent company is buying out its biggest franchisee in the US for about $1 billion, and will renovate hundreds of its locations. https://t.co/EWnHrtyuBB
Burger King owner Restaurant Brands will buy franchisee Carrols Restaurant for about $1 billion in cash https://t.co/SJ6UvZyZkV
This deal is fascinating, so let's talk about it. In 2012, Burger King gave Carrols its right of first refusal. That meant Carrols could step in and buy any restaurant in 19 states at the negotiated price. It was HIGHLY controversial at the time. https://t.co/cuS1AU2GD7
Today's M&A and SPAC notes $ANSS to be acquired by $SNPS for $197.00 cash + 0.3450x shares, 28.7% premium, $35bn $TAST to be acquired by $QSR for $9.55 cash, 13.4% premium, $1.0bn $HMST to be acquired by $FSUN for 0.4345x shares, 36.2% premium, $286mm https://t.co/LyCL1AdTkN
Burger King's largest franchisee - Carrols Restaurant Group - has been acquired for $1 BILLION 💰 Carrols is a publicly traded company, and was the *best* performing restaurant stock in 2023, with its valuation soaring nearly 500%. 1 out of every 7 Burger King's in the US is a… https://t.co/G7NWr7vOpP
Kinda saw this coming but it still surprised me this a.m. Burger King is buying out Carrols Restaurant Group and plans to remodel stores, then refranchise them. $QSR $TAST https://t.co/oS5PfaaUm2
How Private Equity actually consolidates an industry. https://t.co/UH57e7N91J
Burger King owner Restaurant Brands buys chain's largest U.S. franchisee https://t.co/Btccol1Q1h
Burger King owner Restaurant Brands buys chain's largest U.S. franchisee https://t.co/yFuIakEOrQ $QSR buying $TAST
Burger King owner to take full control of Carrols Restaurant in $1 bln deal https://t.co/N8nUuqAZwX https://t.co/gig6ftZ9z3
$TAST (+12.8% pre) $QSR Burger King® Company to Acquire Carrols Restaurant Group (9.55/sh cash) - rbi https://t.co/3dSGlKw1Uq
⚠️ BURGER KING-OWNER RESTAURANT BRANDS TO BUY CARROLS RESTAURANT GROUP (Reuters) Burger King-parent Restaurant Brands said on Tuesday it would acquire all of Carrols Restaurant Group's issued and outstanding shares it does not already own for $9.55 per share in an all-cash… https://t.co/qyBYWh1Ay0
Burger King to buy franchisee Carrols Restaurants for a 13% premium https://t.co/mBB8RHrNrF