Carrols Inks Whopper Of A Deal To Buy 278 Burger Kings

Law360, New York (March 26, 2012, 7:35 PM EDT) -- Leading Burger King Corp. franchisee Carrols Restaurant Group Inc. inked an agreement Monday that nearly doubles the number of Burger King fast food restaurants it controls and gives the fast-food giant a nearly 30 percent stake in Carrols.

The Syracuse, N.Y.-based Carrols will also make a $15.8-million cash payment to Burger King, which includes more than $9 million in refranchising fees, according to a joint statement the companies issued Monday.

Carrols currently operates 546 restaurants in 17 states, 297 of which are Burger Kings. The deal...
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