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Company Description

Contact Info

968 James Street

Syracuse, NY 13203

United States

Phone: 315-424-0513

Fax:

Carrols Restaurant Group, Inc. operates as a restaurant company in the United States. The company is the primary Burger King franchisee in the United States and has operated Burger King restaurants. As of January 3, 2016, the company owned and operated 705 Burger King restaurants located in 16 Northeastern, Midwestern and Southeastern states. Burger King restaurants feature the flame-broiled Whopper sandwich, as well as various hamburgers, chicken and other specialty sandwiches, French fries, salads, breakfast items, hot dogs, snacks, smoothies, frappes and other offerings. As of December 31, 2015, there were a total of 15,003 Burger King restaurants, of which approximately 100% were franchised and 7,355 were located in the United States and Canada. The company operates its restaurants under franchise agreements with BKC (Burger King Worldwide, Inc. and its wholly-owned subsidiaries, including Burger King Corporation, and its parent company Restaurant Brands International, Inc.). Suppliers The company is a member of a national purchasing cooperative, Restaurant Services, Inc. The company utilizes three distributors, Maines Paper & Food Service, Inc.; Reinhart Food Service L.L.C.; and MBM Food Service Inc., to supply its restaurants with the majority of its foodstuffs, and as of January 3, 2016, such distributors supplied 39%, 33% and 28%, respectively, of the company’s restaurants. Business Strategies The company’s primary business strategies are to increase restaurant sales and customer traffic; strategically remodel to elevate brand profile and increase profit potential; selectively acquire and develop additional Burger King restaurants; and improve profitability of restaurants that the company acquires by leveraging its existing infrastructure and best-practices. Seasonality The company’s business is moderately seasonal due to regional weather conditions. Due to the location of its restaurants, sales are generally higher during the summer months than during the winter months. Trademarks As a franchisee of Burger King, the company also has contractual rights to use certain BKC-owned trademarks, service marks and other intellectual property relating to the Burger King concept. Government Regulation The company is subject to the federal Fair Labor Standards Act and various other federal and state laws governing such matters as minimum wage requirements; unemployment compensation; overtime; and other working conditions and citizenship requirements. Competition The company’s major competitors are McDonald's and Wendy's restaurants.

 

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Valuation TAST Industry Range
Price/Earnings 26.2x
Price/Sales 0.5x
Price/Book 3.9x
Price/Cash Flow 7.1x
TEV/Sales 0.3x
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