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Burger King Sells Indiana Restaurants To Franchisee

Last updated on Thursday, May 31, 2012

(SYRACUSE, NY) - Indiana Burger Kings open under new ownership Thursday.

Carrols Restaurant Group announced the acquisition of 278 Burger King restaurants from Burger King Corporation Wednesday. The restaurants are located in the Indiana, Ohio, Kentucky, Pennsylvania, North Carolina, South Carolina and Virginia markets, according to a statement from Carrols.

Employees at several local restaurants confirmed the deal to Eyewitness News, saying they closed early Wednesday but will open for normal business Thursday.

New York-based Carrols is Burger King's largest franchisee globally, with 574 restaurants.

The deal included a 28.9% equity interest in Carrols and total cash payments of approximately $16.2 million and other cash and franchise considerations.

BKC's President of North America, Steve Wiborg, and Chief Financial Officer Daniel Schwartz, have also joined Carrols' Board of Directors.

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