Burger King Owner to Buy Biggest Franchisee for $1 Billion
- Carrols Restaurant Group operates more than 1,000 locations
- Purchase is part of a fix-it plan to boost traffic and sales
The owner of Burger King plans to buy its largest US franchisee for about $1 billion in cash in a bid to fast-track an overhaul of hundreds of locations and win back customers.
Restaurant Brands International Inc. said it expects to complete its purchase of Carrols Restaurant Group Inc. by the second quarter and spend a further $500 million to remodel 600 of Carrols’ more than 1,000 locations.