BURGER KING

Slogan: Have It Your

Way
Headquartered in
Miami-Dade county,
Florida
CEO: Daniel Schwartz
Every day, more than
11 million guests visit
BK around the world
HISTORY
Founded in 1953 by Keith Kramer and his wifes uncle, Matthew Burns as
Insta-Burger King in Jacksonville, Florida
Falling on hard times, they sold the franchisees to James McLamore and
David Edgerton in 1954 and brought changes such as introducing companys
mascot, creating signature sandwich(Whooper), switching to flame-broilers,
releasing TV commercials and renaming the company to Burger King.
After selling territorial licenses to private franchisees, BK was purchased by
Pillsbury in 1967, boasting 27 US locations and was valued at US $18 million.
Pillsbury made alterations to franchise agreements, introduced a uniform
store design and developed new products.
In 1989, Pillsbury sold BK to Grand Metropolitan PLC for $5.7 billion and
opened BK restaurants in 11 new countries.
HISTORY
In 1997, a $22 billion merger between Grand Metropolitan
and Guinness led to the creation of a new company, Diageo
which led to the fall of BKs revenue and market share
In 2002, a group of private equity firms led by TPG Capital
purchased BK from Diageo for $1.5 billion.
TPG made BK a public company through an IPO in early 2006
and made numerous changes: introducing new ad campaigns,
launching a redesigned menu, redesign individual stores and
creating BK Whopper Bar that changed BKs fortunes.
As growth slowed, TPD decided to divest itself of BK.