Sep 3, 2010
Burger King Bought By 3G Capital
Written under: Business
Burger King has just been bought by investment firm 3G Capital. The deal had a tag price of $3.26 billion. Their sales have been unimpressive over the past years primarily due to the economic downturn.
Most of Burger King’s customers are men between 18 to 34 and the recent recession has left their target market out of jobs and not eating out.
According to Bob Goldin, an analyst from food consulting firm Technomic Inc., “McDonald’s is just eating their lunch. Burger King’s very heavily focused on a core audience of the younger male. And with that group, their attention goes to wherever has a better deal or whatever is hotter.”