At least three consortia of private equity companies and one trade buyer have placed their hats in the ring for the final bidding round to buy US fastfood giant Burger King.
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According to the Wall Street Journal, Triarc (which owns the roast beef foodservice chain Arby’s) and at least three private equity firms are planning to place bids ranging between US$2bn and US$2.5bn to acquire the world’s second-largest burger chain from Diageo of the UK.
Sources close to the deal are reported as saying that a group made up of Texas Pacific Group, of San Francisco, Goldman Sachs Group’s (GS) private-equity arm and Bain Capital of Boston are expected to bid in the final round.
