Burger King Ready for Flame-Broiled IPO |
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Fast-food chain says it will register with SEC in late February or March, believing the move will benefit employees, franchisees.
Burger King Holdings Inc. said Wednesday it is planning an initial public offering and will file a registration statement with the Securities and Exchange Commission in late February or early March.
The hamburger chain, which was widely expected to pursue an IPO, said it has no further comment beyond Wednesday's brief statement, citing limitations imposed by U.S. securities law.
"Our goal has always been to take Burger King public," Chairman and Chief Executive Greg Brenneman said in the statement.
"We believe the transparency and stability in ownership offered by being a public company will benefit our employees and franchisees for years to come."
Private equity investors bought Burger King from British drinks company Diageo Plc in 2002 for about $1.5 billion.
The company has targeted young, male consumers with a quirky advertising campaign and menu items such as chicken fries that shun the healthy eating trend. The strategy appeared to pay off as Burger King returned to profitability after several years of restructuring.
