Burger King returns to stock market

Published:  6 Apr at 6 PM

As reported by the Guardian, fast food giant Burger King, which is overhauling its stores and menus, has announced its intentions to be relisted on the NY stock exchange before July.

The New York-based investment company 3G Capital stated it was selling a 29 percent stake in the globe’s second biggest burger chain for $1.4 billion (£880 million) to Justice Holdings, a shell based in London set up to invest in other companies, while 3G Capital plans to keep the remaining 71 percent.

Justice Holdings will suspend its trading at the London Stock Exchange when the deal is finally complete. The firm will then transpire as Burger King Worldwide, with its shares traded on the NYSE.

Burger King traded previously under BKC between 2006 - 2010 but its newfound ticker has not yet been announced. The report came just one day after the fast food chain launched a star-studded television ad campaign to promote the biggest revamping ever since the restaurant opened its doors in 1954.

The overhaul began in 2011 after 3G Capital took the wheel of the Miami-based chain and thoroughly assessed the fading business. Executives decided to drop Burger King's outdated approach of luring young men with calorie-packed meals and instead try to attract a much broader audience.

Among the new items launched were fruit smoothies, frappés, snack wraps and speciality salads. The additions imitate many of the popular items in recent years at McDonald's, which has strengthened its position as the country’s No 1 fast food restaurant by re-marketing itself as a hip and healthy place to eat.