Pa. PE Shop Picks Up Ala. Burger King Franchisee

Law360, New York (January 11, 2013, 4:58 PM EST) -- PNC Riverarch Capital, a Pittsburgh-based private equity shop, said Friday it’s secured a controlling stake in Alabama-based Goldco LLC, a Burger King Corp. franchisee with nearly 100 Whopper-slinging locations in the Southeast.

Goldco operates 96 Burger King restaurants in Alabama, Georgia and Florida, and concurrent with the deal, Riverarch also snapped up from Burger King Worldwide Inc. 33 locations in southeastern Florida’s Broward County.

Riverarch didn’t disclose the transaction’s terms, but commercial finance firm NXT Capital Inc. said it stepped up with a $27 million senior...
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