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Burger King
From Wikipedia, the free encyclopedia
"BK" redirects here. For other uses, see BK (disambiguation).
This article is about the restaurant chain. For other, see Burger King (disambiguation).
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Burger King Burger King's logo
Trading name
Burger King
Type
Public
Traded as NYSE: BKW
Industry Restaurants
Genre Fast food restaurant
Predecessor Insta-Burger King
Founded
Insta-Burger King: July 28, 1953 in Jacksonville, Florida
Current company: 1954 in Miami, Florida
Founder
Insta-Burger King: Keith J. Kramer and Matthew Burns
Current company: David Edgerton and James McLamore
Headquarters 5505 Blue Lagoon Drive,
Miami-Dade County, Florida, United States
Area served
Global
Key people
Alexandre Behring (Chairman)[1]
Daniel S. Schwartz (CEO)[2]
Joshua Kobza (CFO)[2]
Products
Hamburgers
chicken
french fries
soft drinks
milkshakes
salads
desserts
breakfast
Revenue Decrease US$1.97 billion (FY 2012)[3]:6
Operating income
Decrease US$363.0 million (FY 2012)[3]:36
Net income
Increase US$117.7 million (FY 2012)[3]:6
Total assets Increase US$5.564 billion (FY 2012)[3]:12
Total equity Increase US$1.175 billion (FY 2012)[3]:12
Number of employees
34,248 (FY 2011)
Parent Restaurant Brands International
Website
www.bk.com
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Burger King, often abbreviated as BK, is a global chain of hamburger fast food restaurants headquartered in unincorporated Miami-Dade County, Florida, United States. The company began in 1953 as Insta-Burger King, a Jacksonville, Florida-based restaurant chain. After Insta-Burger King ran into financial difficulties in 1954, its two Miami-based franchisees, David Edgerton and James McLamore, purchased the company and renamed it Burger King. Over the next half century, the company would change hands four times, with its third set of owners, a partnership of TPG Capital, Bain Capital, and Goldman Sachs Capital Partners, taking it public in 2002. In late 2010, 3G Capital of Brazil acquired a majority stake in BK in a deal valued at US$3.26 billion. The new owners promptly initiated a restructuring of the company to reverse its fortunes. 3G, along with partner Berkshire Hathaway, eventually merged the company with Canadian-based donut chain Tim Hortons.
At the end of fiscal year 2013, Burger King reported it had over 13,000 outlets in 79 countries; of these, 66 percent are in the United States and 99 percent are privately owned and operated with its new owners moving to an entirely franchised model in 2013.
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