TORONTO — Restaurant Brands International Inc. (RBI) has completed its previously announced acquisition of all issued and outstanding shares of Carrols Restaurant Group, Inc. that aren’t already held by RBI or its affiliates for $9.55 per share in an all-cash transaction, or an aggregate total enterprise value of approximately $1 billion.
With the close of the acquisition, RBI adds the largest Burger King franchisee in the U.S. to its portfolio as part of the company’s Re-claim the Flame plan. As previously announced, the company will invest a further $500 million to accelerate the re-imagining of more than 600 Carrols restaurants before re-franchising the majority of the acquired portfolio to new or existing smaller franchise operators over the next seven years.
