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Burger King buys out Iowa, Nebraska franchisee
July 17, 2008
MIAMI — Burger King Corp. has announced the acquisition of 72 Burger King restaurants in the major metropolitan areas of Omaha, Neb., and Des Moines, Iowa, and surrounding communities from franchisee Simmonds Restaurant Management (SRM). The transaction is part of the company's ongoing portfolio management strategy.
SRM's portfolio of restaurant companies throughout the Midwest include Taco John's and Jimmy John's. SRM was originally founded in 1976 with the opening of the first Burger King restaurant in Fremont, Neb.
Approximately 90 percent of Burger King restaurants are owned and operated by independent franchisees, many of them family-owned operations that have been in business for decades, according to a press release.
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