US fast food chain Burger King agreed to sell itself to investment firm 3G Capital for about $3.26 billion. Burger King has lagged larger rival McDonald's Corp. Burger King reported a 2.3% drop in global sales for 2010 compared with a 1.2% rise in the same period in the previous year.
U.S. fast-food chain with 12,100 locations, it has struggled because the economy has been bad for its most important customer group - young men.
The company began as a franchise restaurant chain, based in Jacksonville, Florida in 1953, named Insta-Burger King, and operated by Kieth J. Kramer and Matthew Burns. They completely reorganized Burger King's advertising with a series of new advertisements centered on a resuscitated Magical Burger King character.
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