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Burger King: A Short History

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BURGER KING HISTORY
AP

-- _1954 – David Edgerton opens Insta Burger King in Miami, selling 18-cent fire-grilled hamburgers and 18-cent milkshakes. Three months later, Jim McLamore matches Edgerton's capital and the co-founders form a corporation called Burger King of Miami Inc.

_1963 – South Florida Restaurants Inc. changes its name to Burger King Corp.

_1967 – The Pillsbury Co. acquires Burger King Corp. for $18 million. There are 274 restaurants in operation with a total of 8,000 employees.

_1988 – Grand Metropolitan PLC acquires The Pillsbury Co. and its subsidiaries, including Burger King, for $5.79 billion.

_1997 – Grand Metropolitan merges with Guinness to create a new company, Diageo PLC.

_2000 – Diageo announces its intention to spin off Burger King Corp. from its portfolio.

_2002 – A group comprised of Texas Pacific Group, Bain Capital and Goldman Sachs Capital Partners buys Burger King for $1.5 billion.

_2006 – Burger King goes public.

_2010 – Burger King is acquired by 3G Capital and taken private. The new owners begin a yearlong process of reviving the ailing business with new menu items and remodeled stores.

_2012 – Burger King returns to the New York Stock Exchange after 3G Capital sells a 29 percent stake in the hamburger chain for $1.4 billion in cash to Justice Holdings LTD, a U.K.-based entity specifically set up by investors to buy a company.

 
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