Burger King has sold to private equity firm 3G Capital for $3.26 billion.
Their sales consistently fares below their competitor McDonald’s, and the company has struggled over the past two years during the economic downturn. Their prime customers, men between 18 and 34, are out of a job and not eating out, which has lead to five consecutive quarters of declines.
“McDonald’s is just eating their lunch,” said Bob Goldin, an analyst at the food consulting firm Technomic Inc. “Burger King’s very heavily focused on a core audience of the younger male. And with that group, their attention goes to wherever has a better deal or whatever is hotter.”
Hope the brand doesn’t go under! Our mom will be very upset.