Burger King expects it will be relisted on the New York Stock Exchange within 90 days. The No. 2 burger chain in the world is going through an overhaul of its menu and redesign of its stores. A deal was announced on Tuesday where 3G Capital an investment firm based in New York was selling its 29% stake in the burger chain to Justice Holding LTD for $1.4 billion in cash. Justice is a business in the United Kingdom specially made for investors to purchase a company.
Once the deal goes through, shares of Justice will be suspended from trading on the stock exchange in London. At that time, the company will them become Burger King Worldwide and have its shares traded on Wall Street.
Previously Burger King was traded under the symbol BKC but will now be under a yet to be determined new ticker. This announcement comes only 24 hours after the burger chain launched a new advertising campaign on TV touting it revamped menu and stores, the biggest such revamping since 1954 when the chain first opened.
Last year the overall first started just after the reins of the company were taken by 3G Capital. 3G assessed the entire chain. Outdated strategies were abandoned by executives for new ones that instead of courting young males, decided to play to a broader audience.
On Monday, new items launched included smoothies, frappes, snack wraps and specialty salads. The new items mimic much of what McDonald’s has added to their menu recently. Those additions have helped McDonald’s remain as the No. 1 fast food company in the country and set itself as a healthy, hip environment to eat at.
