Miami, (BUSINESS WIRE) -- MKMB Restaurant Partners LLC has become the newest BURGER KING(R) franchise owner and operator. This minority-owned and controlled franchise group purchased 19 restaurants in the Des Moines, IA area from Burger King Corp. (NYSE:BKC).
"We are delighted to have MKMB Restaurant Partners LLC as a new franchise owner and operator. We are also pleased to be working with an organization that has significant foodservice experience," said Chuck Fallon, president North America, Burger King Corp. "We look forward to a long-standing relationship with the company as we continue to expand our diverse franchise base within the BURGER KING(R) system."
The debt portion of this transaction was financed by Bank of America. These 19 refranchised restaurants were part of the 72 BURGER KING(R) restaurants that were acquired from Simmonds Restaurant Management last year.
The BURGER KING(R) system operates more than 11,700 restaurants in all 50 states and in 74 countries and U.S. territories worldwide. Approximately 90 percent of BURGER KING(R) restaurants are owned and operated by independent franchisees, many of them family-owned operations that have been in business for decades. In 2008, Fortune magazine ranked Burger King Corp. among America's 1,000 largest corporations and Ad Week named it one of the top three industry-changing advertisers within the last three decades. To learn more about Burger King Corp., please visit the company's Web site at www.bk.com.
SOURCE: Burger King Corp.