Editor’s note: This article was first published in September 2010, reporting news from early that month. On 2 September 2010, 3G Capital agreed to buy Burger King for about $3.26 billion, and in 2014 it merged with Tim Hortons to form Restaurant Brands International. Its ranking as second after McDonald’s refers to 2010.
The crisis has also hit the “junk food” business, to the point that Burger King, number two in its sector after McDonald’s, is looking for buyers among private investors. Since the recession began, Burger King’s sales have fallen considerably, while McDonald’s has held up thanks to Ray Kroc’s innovation.
While McDonald’s has looked for new lines of business, such as quick coffee or its new 24-hour opening times, Burger King has stayed the same. When times change, the rules of the game change.
Yesterday The Wall Street Journal revealed the company’s intentions; its shares had lost 5% of their stock market value. Hours after the news broke that Burger King was looking for a buyer, its shares rose 13.5%.
Burger King is determined to hand control to the investors who buy the company’s shares. Once again we can see how, among competitors, the only company that survives is the one that adapts properly to new times and to changes in consumer habits.
Further reading
- How to run a small business in times of crisis
- 5 ways to grow your business
- How to be a successful businessperson
Featured image: BrokenSphere, CC BY-SA 3.0, via Wikimedia Commons.
