Karl Nelson, CCIM - Investment Sales Specialist (NNN Assets)’s Post

📈 Burger King Acquires Carrols Corporation! 🍔👑 Under its parent company Restaurant Brands International, Burger King announced the acquisition of Carrols Restaurant Group, Inc. (NASDAQ: TAST). 🔍 Key Highlights of the Deal: Transaction Price: A striking $9.55 per share, translating to a total enterprise value of approximately $1 billion. This represents a 6.6x EV/2024E EBITDA multiple. Funding: The acquisition is strategically financed with about $200 million in cash and $750 million in debt. Closing Timeframe: Anticipated to finalize in Q2 of 2024, subject to customary closing conditions and regulatory approvals. 🚀 What This Means for Burger King: Modernization Push: Burger King aims to fully modernize Carrols' systems by 2028. This accelerated transformation is part of their 'Reclaim the Flame' initiative. Increased Presence: Carrols operates 1,022 Burger King restaurants and 60 Popeyes restaurants across 23 states – a substantial addition to Burger King's portfolio. Financial Performance: Carrols anticipates strong year-end 2023 results, with Adjusted EBITDA at the higher end of the $145-$149 million range. The deal is structured to be neutral to Adjusted Diluted Earnings per Share. 🌐 Broader Industry Impact: Market Dynamics: This acquisition signifies a strategic move in the fast-food sector, potentially influencing market trends and competitor strategies. #Finance #MergersAndAcquisitions #BurgerKing #CarrolsRestaurantGroup #FastFoodIndustry #MarketAnalysis

Is Carrols Restaurant Group joining the RBI family a game-changer for Burger King? Restaurant Brands International just made headlines with a $1 billion acquisition of Carrols Restaurant Group – Burger King's largest U.S. franchisee. This move is set to reshape the landscape of the fast-food industry and amplify Burger King's Reclaim the Flame initiative. Key Insights: - Carrols operates 1,022 Burger King restaurants and 60 Popeyes units, achieving $1.8 billion in annual sales. - Burger King will invest $500 million to remodel 600 Carrols sites over five years. - The objective is to refranchise most of the acquired units within the next 5-7 years while maintaining some for strategic purposes. Carrols Burger King units, showing a 7.2% same-store sales growth in Q4 2023, exemplify strong performance amidst industry challenges. This partnership aims to leverage Carrols' local expertise, with refurbishments expected to greatly enhance the customer experience. So, how do you think this acquisition will impact the fast-food industry? Will it set a precedent for similar future deals? #RBI #BurgerKing #Acquisition #FastFood #BusinessGrowth

#BurgerKing parent #RestaurantBrandsInternational (TSX:QSR, NYSE:QSR) has inked a deal to buy the #CarrolsRestaurant Group, the largest Burger King franchisee in the US, for $1 billion.  Carrols operates 1,022 locations across 23 states, along with 60 #Popeyes locations in 6 states.  The deal values Carrols at $9.55 per share. Shares of the company 13% to $9.52 Tuesday morning, while Restaurant Brands stock fell 3% to $76.06.  The move is part of a strategy to grow sales and improve franchisee profits, according to reports. Specifically, Burger King expects to invest $500 million to remodel 600 of the newly acquired locations.  In addition to Burger King and Popeyes, Restaurant Brands also owns #TimHortons (TSX:THI) and #FirehouseSubs.  More at #Proactive #ProactiveInvestors #TSX #NYSE #QSR http://ow.ly/hAPy10595N3

Denny’s is closing 150 restaurants over the next year, and the 71-year-old diner chain is mulling a major change to its 24/7 operating hours. Fifty locations are set to close by the end of 2024, while the remaining 100 will shutter in 2025, Denny’s announced in an earnings call Tuesday. That amounts to a tenth of its restaurants, leaving 1,375 locations once completed. A specific list of closing restaurants weren’t immediately announced. Denny’s is targeting “underperforming restaurants” that are weighing down the company’s financial performance, according to Steve Dunn, Denny’s executive vice president and chief global development officer. The affected locations are either too old to be remodeled or in areas that have become unprofitable. The chain, best known for never closing its doors, is also making a major concession with its franchisees over the requirement of remaining open 24/7. Since the pandemic, about a quarter of its restaurants have not returned to those around-the-clock hours, so Denny’s is easing up on the requirement for a franchise to do so.

NEWS OF THE DAY! Restaurant Brands International, the parent company of Burger King, seals a $1 billion agreement to acquire Carrols Restaurant Group 1.     Restaurant Brands International Inc. (QSR) is set to acquire Carrols Restaurant Group (TAST) for $1.0 billion. 2.     The deal offers $9.55 per share for TAST, representing a 23.1% premium to its 30-day average price. 3.     Carrols is the largest Burger King franchisee in the U.S., operating 1,022 Burger King and 60 Popeyes restaurants. 4.     Burger King plans to remodel the acquired restaurants over the next five years as part of its Reclaim the Flame plan. 5.     The transaction is aimed at accelerating sales growth, driving franchisee profitability, and follows Burger King's initial $400 million investment in September 2022. 6.     Carrols' board formed a special transaction committee to evaluate the proposal, consisting of independent directors with advice from legal and financial advisors. =>Please follow Finplate and stay updated with the latest #mergersandacquisitions news. Thanks in advance. To read more about the news, please visit below given link: https://lnkd.in/ehhqm2NC

Tom Gordon, co-founder & CEO of Slim Chickens, will be one of four presenters during the Executive Perspectives session at Restaurant Franchising & Innovation Summit 2024. Tom's talk is titled "Blurred Lines: The Evolution of the Limited-Service Concept." #RFISummit

Tom Gordon, co-founder & CEO of Slim Chickens, will be one of four presenters during the Executive Perspectives session at Restaurant Franchising & Innovation Summit 2024. Tom's talk is titled "Blurred Lines: The Evolution of the Limited-Service Concept." #RFISummit

The ONE Group , the parent company of STK and Kona Grill chains, plans to acquire Safflower Holdings, owner of Benihana and RA Sushi Bar Restaurant , for $365 million. This acquisition will significantly expand One Group's presence, nearly tripling its venues to 168 worldwide. The acquisition aligns with One's strategy of diversifying its portfolio of experiential concepts, adding to its high-end, full-service offerings. Despite pandemic-related challenges, One Group's revenues have remained resilient, totaling $332.8 million in 2023, with a slight decline in same-store sales offset by overall revenue growth. Read More Here: https://lnkd.in/eGax_Kex #innovation #venturecapital #investing #marketing #technology

One Table Restaurant Brands, the parent company of Tender Greens and Tocaya Modern Mexican, has filed for bankruptcy to restructure its debt and prepare for a potential sale. The company, which operates 39 locations across California and Arizona, faced significant financial strain due to pandemic-related challenges, high debt from pre-pandemic expansions, costly landlord settlements, and increased operational costs. Tender Greens, with a “farm-to-fork” concept, has seen some recovery, while Tocaya continues to struggle with declining sales. The company's debt exceeds $16 million. To support ongoing operations, One Table has secured financing from Breakwater Management LP. Read More Here: https://lnkd.in/ewqkf_uj QSR #hospitality #bankruptcy #restaurants #technology huntley castner Robert Morago Jr Annie Svitak Oliver Plust Branded Hospitality Ventures Tim Dolan Rudy Sugueti Paige Morrison Wiley mel landuyt