Hamburger chain Burger King said on Tuesday it plans go public through a deal with a London-listed investment firm, less than two years after it agreed to be taken private by private equity group 3G Capital Management LLC.
The quick sale highlights a profit improvement at Burger King' Worldwide Holdings Inc, which operates more than 12,000 mainly franchise fast-food outlets around the world.
Its new investor Justice Holdings, said it expects the fast food chain's core profits in 2012 to be almost double those in 2010, as it revamps its menu to better compete with McDonald's Corp
and Wendy's Co.
3G Capital will retain a 71 percent stake in the company, while Justice Holdings, a shell company that went public in February 2011 with the aim of clinching an M&A deal, will merge with Burger King and pay about $1.4 billion in cash for a 29 percent stake in the new company.