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Burger King

Burger King
Subsidiary
Industry Restaurants
Genre Fast food restaurant
Predecessor Insta-Burger King
Founded Insta-Burger King: 1953; 64 years ago (1953)
Jacksonville, Florida
Burger King:1954; 63 years ago (1954)
Miami, Florida
Founder Insta-Burger King:{Keith J. Kramer and Matthew Burns
Burger King:David Edgerton and James McLamore
Headquarters 5505 Blue Lagoon Drive
Miami-Dade County, Florida, United States
Number of locations
15,243 (September 30, 2016)
Area served
Global
Key people
  • Alexandre Behring (Chairman RBI)
  • Daniel S. Schwartz (CEO)
  • José E. Cil (President)
  • Joshua Kobza (CFO)
Products
Revenue IncreaseUS$4.05 billion (FY 2015)
Decrease US$363.0 million (FY 2015 RBI)
Decrease US$1.912 billion (FY 2015 RBI)
Total assets Decrease US$18.41 billion (FY 2015 RBI)
Total equity Decrease US$2.912 billion (FY 2015 RBI)
Number of employees
34,248 (FY 2015 RBI)
Parent Restaurant Brands International
Website

www.bk.com


www.bk.com

Burger King (BK) is an American global chain of hamburger fast food restaurants. Headquartered in the unincorporated area of Miami-Dade County, Florida, the company was founded in 1953 as Insta-Burger King, a Jacksonville, Florida-based restaurant chain. After Insta-Burger King ran into financial difficulties in 1954, its two Miami-based franchisees David Edgerton and James McLamore purchased the company and renamed it "Burger King." Over the next half-century, the company would change hands four times, with its third set of owners, a partnership of TPG Capital, Bain Capital, and Goldman Sachs Capital Partners, taking it public in 2002. In late-2010, 3G Capital of Brazil acquired a majority stake in the company, in a deal valued at US$3.26 billion. The new owners promptly initiated a restructuring of the company to reverse its fortunes. 3G, along with partner Berkshire Hathaway, eventually merged the company with the Canadian-based doughnut chain Tim Hortons, under the auspices of a new Canadian-based parent company named Restaurant Brands International.

The 1970s were the "Golden Age" of the company's advertising, but beginning in the early-1980s, Burger King advertising began losing focus. A series of less successful advertising campaigns created by a procession of advertising agencies continued for the next two decades. In 2003, Burger King hired the Miami-based advertising agency Crispin Porter + Bogusky (CP+B), who completely reorganized it's advertising with a series of new campaigns centered on a redesigned Burger King character nicknamed "The King," accompanied by a new online presence. While highly successful, some of CP+B's commercials were derided for perceived sexism or cultural insensitivity. Burger King's new owner, 3G Capital, later terminated the relationship with CP+B in 2011 and moved its advertising to McGarryBowen, to begin a new product-oriented campaign with expanded demographic targeting.


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