News

Burger King’s largest franchisee adds to portfolio

July 17, 2014

Carrols Restaurant Group today announced that it has signed a definitive agreement to purchase 21 Burger King restaurants from Kessler Group Inc. The restaurants are located in or around Rochester, N.Y. and in the southern region of Western New York State.

According to a news release, the transaction is expected to close by the end of July and is subject to customary closing conditions.

Carrols also recently completed the acquisition of a total of eight Burger King restaurants in two separate transactions. On June 30, Carrols completed the purchase of four restaurants in the Pittsburgh market. The company previously announced that it had also closed on the acquisition of four restaurants located in Fort Wayne, Ind., on April 30.

"Earlier this year we completed a public offering of common stock to position us for opportunities such as these," CEO Daniel T. Accordino said in the release. "Carrols has a track record of improving the operations and profitability of restaurants it has acquired and we believe we will enhance shareholder value as we execute our strategy to further expand our ownership within the Burger King system. We expect to make additional announcements of this nature in the future."