Burger King Owner Looking For New Brand
A major announcement in the restaurant industry took place recently. Burger King owner Restaurant Brands International bought another fast-food chain for more than $1 billion. That deal represents the largest ever by a single company, but the company is also in the market for a new fast-food brand. As the number of fast-food chains expands around the world, more companies are looking for a unique brand that stands out among competitors. A new owner might be the perfect fit.
Previously, the company had operated Automat restaurants in New York City. But in a bid to expand, he turned these businesses into Burger Kings and was banned from opening more than four new outlets in New York. The company then sued the franchisees and was found in breach of contract. The suit was ultimately dismissed, but it is not clear if the lawsuit is legal or not. If it is true, then it means that Burger King is no longer a monopoly in the New York market.
The company’s first acquisition was made by wealthy Louisianans Billy and Jimmy Trotter. The brothers opened their first Burger King in 1963 and within six years had nearly two dozen outlets under their control. In 1969, the company went public as Self Service Restaurants Inc., and by 1970, they had partnered with the Walt Disney Company to increase the chain’s distribution and expand internationally. In addition, the company also bought British-based Wimpy.