3G Capital Scoops Up Home Of The Whopper for $4 Billion
Burger King is changing hands again. 3G Capital has agreed to buy the home of the Whopper for about $4 billion. 3G Capital is paying $24 a share, according to an announcement Thursday. The WSJ says that banks are financing about $2.8 billion of the deal. John Chidsey, BK’s Chairman and CEO, will stay through the transition in these roles and then become co-chairman. Alex Behring, a 3G managing partner, will also become co-chairman. TPG Capital, Goldman Sachs Capital Partners and Bain Capital currently own a combined 31% of BK. They are tendering their shares in the deal. So who is 3G Capital? The Financial Times says it’s a hedge fund based in New York that is backed by a group of Brazilian entrepreneurs, collectively known as “the Trio." The Trio are best known for building the Brazilian brewery that became InBev.
