MIAMI — Burger King is set to go public again following a merger with Justice Holdings Ltd, which was founded by Nicolas Berggruen, owner Karstadt, Germany’s biggest department-store chain, Martin Franklin and Ackman, who owns Ackman’s Pershing Square Capital Management LP.
The fast-food chain went private in 2010 with 3G Capital Inc. In the new deal, 3G will get $1.4 billion in cash to transfer Burger King to Justice Holdings Ltd., owned by William Ackman. Following the closure of the deal, 3G will remain the largest shareholder in Burger King, with a 71-per-cent stake.
Meanwhile, the chain is offering new menu offerings. “We spent the last year analyzing every aspect of our business to better understand what our guests expect from the Burger King dining experience,” said Steve Wiborg, president, North America, Burger King Corp. (BKC). “We found consumers wanted a broader range of menu options to complement our signature fire-grilled burgers. This expanded menu gives consumers more choices and more reasons to visit Burger King.”
The new menu was unveiled April 2. It features new salads, smoothies, snack wraps and chicken strips and is supported by an advertising campaign with new commercials, featuring David Beckham, Mary J. Blige, Salma Hayek, Jay Leno, Steven Tyler and Sofia Vergara.