Submitted by Fox First at Ten on June 20th
By The Associated Press
-1954 - David Edgerton opens Insta Burger King in Miami, selling 18-cent fire-grilled hamburgers and 18-cent milkshakes. Three months later, Jim McLamore matches Edgerton's capital and the co-founders form a corporation called Burger King of Miami Inc.
-1963 - South Florida Restaurants Inc. changes its name to Burger King Corp.
-1967 - The Pillsbury Co. acquires Burger King Corp. for $18 million. There are 274 restaurants in operation with a total of 8,000 employees.
-1988 - Grand Metropolitan PLC acquires The Pillsbury Co. and its subsidiaries, including Burger King, for $5.79 billion.
-1997 - Grand Metropolitan merges with Guinness to create a new company, Diageo PLC.
-2000 - Diageo announces its intention to spin off Burger King Corp. from its portfolio.
-2002 - A group comprised of Texas Pacific Group, Bain Capital and Goldman Sachs Capital Partners buys Burger King for $1.5 billion.
-2006 - Burger King goes public.
-2010 - Burger King is acquired by 3G Capital and taken private. The new owners begin a yearlong process of reviving the ailing business with new menu items and remodeled stores.
-2012 - Burger King returns to the New York Stock Exchange after 3G Capital sells a 29 percent stake in the hamburger chain for $1.4 billion in cash to Justice Holdings LTD, a U.K.-based entity specifically set up by investors to buy a company.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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