Burger King to File IPO

MIAMI-On the heels of McDonald’s-owned Mexican chain Chipotle’s recent public offering, Burger King, at one time the Golden Arches’ biggest competitor, will make an IPO bid. The company plans to file with the SEC late next month or in March.

“Our goal has always been to take Burger King public,” says Greg Brenneman, the fast-food chain’s chairman and chief executive officer, in a statement. “We believe the transparency and stability in ownership offered by being a public company will benefit our employees and franchisees for years to come.”

Burger King, which operates about 11,000 units in the US and about 60 countries and territories, is owned by Texas Pacific Group, Bain Capital and Goldman Sachs Capital Partners. The firms acquired the company in 2002 from London-based alcohol-beverage owner Diageo plc for $1.2 billion.