Burger King Sells Out, Investment Banks Cash In

by Derek Loosvelt | September 02, 2010

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It's good to be the King, and on Wall Street that means being able to have your hands on the biggest M&A deals that go to market.

Exhibit BK: today, Burger King agreed to sell itself to investment firm 3G for $4 billion. The banks who advised on the fat and juicy ($$$) deal are some of the most prestigious* on the planet: Morgan Stanley, Lazard, Barclays Capital, J.P. Morgan and, of course, Goldman Sachs. Each took home a nice slice of the deal price.

Burger King had been owned by three entities: Bain Capital, TPG Capital and, coincidentally, Goldman Sachs' private equity unit. Since it went public in 2006, The King has struggled, unable to beat rival Ronnie McD in the lowbrow burger race. 3G, which once upon a time owned and operated fellow burger retailer Wendy's, hopes to turn all that around; it has plans to send The King around the world (that is, boost its international presence).

So, if 3G has its way, soon every man, woman and child across the globe will be able to enjoy a healthy flame-broiled Triple Whopper with cheddar, pepper jack, Swiss or American cheese.

*Exactly one week from today, Vault will release its new Vault Banking 50: our annual ranking of the top investment and commercial banks in North America.

Filed Under: Finance

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