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As a result, a significant amount of the proceeds of this offering will not be invested in our business. The interest rate under the senior secured credit facility for term loan A and the revolving credit facility is at our option either a the greater of the federal funds effective rate plus 0.

The interest rate for term loan B-1 is at our option either a ABR, plus a rate of 0. The interest rate for term loan A and term loan B-1 was 6.

The term loan A matures in June and the term loan B-1 matures in June We will not receive any of the net proceeds from any sale of common stock by the selling stockholders pursuant to the option granted by the selling stockholders to the underwriters.

We operate in the FFHR category of the QSR segment within the broader restaurant industry. To a lesser degree, we compete against national food service businesses offering alternative menus, such as Subway, Yum!

During the past year, the FFHR category has experienced flat or declining traffic which we believe is due in part to competition from these competitors. In the United States, the Subway sandwich chain has grown significantly in recent years and positions itself directly as an alternative to our products.

In one of our major European markets, the United Kingdom, much of the growth in the quick service restaurant segment is expected to come from bakeries and new entrants that are diversifying into healthier options to respond to nutritional concerns. We believe that the large hamburger chains in the United Kingdom have experienced declining sales as they face increased competition from not only the bakeries, but also from pubs that are repositioning themselves as family venues and offering inexpensive food.

Non-FFHR based chains, such as KFC and Pizza Hut, have many outlets in international markets that compete with Burger King and other FFHR chains. In addition, Burger King restaurants compete internationally against local FFHR chains and single-store locations. Have It Your Way is increasingly relevant as consumers continue to demand personalization and choice over mass production. We own or franchise 11, restaurants in 65 countries and U.

Where We Started Our founders sold Burger King Corporation to The Pillsbury Company in , taking it from a small privately held franchised chain to a subsidiary of a large food conglomerate. The Pillsbury Company was purchased by Grand Metropolitan plc, which, in turn, merged with Guinness plc to form Diageo plc, a British spirits company.

As a result, Burger King Corporation became a small, non-core subsidiary of a large conglomerate, making it difficult for the brand to prosper. From , when Grand Metropolitan plc acquired Burger King Corporation, to , we were subjected to frequently changing strategies and an absence of consistent focus.

Burger King Corporation operated globally, but marketing, operations and product development approaches were decided locally, leading to inconsistencies, despite a very strong brand. Then in December , Burger King Corporation was acquired by private equity funds controlled by Texas Pacific Group, Bain Capital Partners and the Goldman Sachs Funds, which we refer to as our sponsors. At the time of the acquisition, we faced significant challenges, including declining average restaurant sales which resulted in lower restaurant profits compared to our competitors.

Additionally, the number of U.

Burger King Stock Is So Hot That It's Flame-Broiled -- The Motley Fool

Chidsey has extensive experience in managing and leading franchised and branded businesses through his long tenures at Cendant and PepsiCo, and Mr. Brenneman brought extensive experience in successfully turning around distressed businesses. The team quickly put in place a strategic plan, called the Go Forward Plan. The plan has four guiding principles: Grow Profitably a market plan ; Fund the Future a financial plan ; Fire-up the Guest a product plan ; and Working Together a people plan. We believe that a strong, simple, measurable, clearly communicated strategic plan gets results.

All of our employees are measured by their contribution to the Go Forward Plan.

We benefit from having a group of employees and franchisees who have pulled together and worked hard during the last two years, as we focus on turning a great brand into a great business. See Note 5 to the Summary Consolidated Financial and Other Data for a definition of EBITDA, its calculation, and an explanation of its usefulness to management. We believe that our Burger King and Whopper brands are two of the most widely-recognized consumer brands in the world.

In June , Brandweek magazine ranked Burger King number 15 among the top 2, brands in the United States. We believe that our franchise restaurants will generate a consistent, profitable royalty stream to us, with minimal associated capital expenditures or incremental expense by us. We also believe this will provide us with significant cash flow to reinvest in strengthening our brand and enhancing shareholder value.

Burger King stock price, NYSE:BKW quote

Although we believe that this restaurant ownership mix is beneficial to us, it also presents a number of drawbacks, such as our limited control over franchisees and limited ability to facilitate changes in restaurant ownership. We have one of the largest restaurant networks in the world, with more than 3, franchise and company-owned restaurants outside the United States. We believe that the demand for new international franchise restaurants is growing and our established infrastructure is capable of supporting substantial restaurant expansion internationally.

We have a seasoned management team with significant experience in growing companies. Following this offering, our executive officers will own approximately 1. We believe that we have a long way to go to achieve our comparable sales and average restaurant sales growth potential in our core U.

We also have reduced the capital costs to build a restaurant, which, together with the improved financial health of our franchise system in the United States, is leading to increased restaurant development in our U. We will continue to build upon our substantial international infrastructure, franchise network and restaurant base, focusing mainly on under-penetrated markets where we already have a presence.

Internationally we are about one-fourth of the size of our largest competitor, which we believe demonstrates significant growth opportunities for us. We succeed when our franchisees succeed, and we will continue building our relationships with our franchisees.

In the past two years, we have implemented advisory committees for marketing, operations, finance and people, realigned our global convention and established quarterly officer and director franchisee visits.

We will continue to dedicate resources toward the creation of a cohesive organization that is focused on supporting the Burger King brand globally. Since , we have integrated our domestic and international operations into one global company. This realignment of our company allows us to operate as a global brand and to execute our global growth strategy while remaining responsive to national differences in consumer preferences and local requirements.

Our global headquarters are located at Blue Lagoon Drive, Miami, Florida Our telephone number is Our website is accessible through www.

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