"Our goal has always been to take Burger King public," says Greg Brenneman, the fast-food chain's chairman and chief executive officer, in a statement. "We believe the transparency and stability in ownership offered by being a public company will benefit our employees and franchisees for years to come."
Burger King, which operates about 11,000 units in the US and about 60 countries and territories, is owned by Texas Pacific Group, Bain Capital and Goldman Sachs Capital Partners. The firms acquired the company in 2002 from London-based alcohol-beverage owner Diageo plc for $1.2 billion.
For the last two years Burger King restaurants have posted a same-store sale jump of 11.8%, according to financial data posted on the company's website. During its most recent quarter, which was reported on Jan. 10, same-store sales rose 2.3%.
Brenneman was named chairman of Burger King last February. He joined the company in August 2004 after serving as chairman and chief executive officer of Houston-based private-equity firm TurnWorks.
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