Restaurant Brands to buy largest US Burger King franchisee for $1B in effort to drive profits

Burger King-owner Restaurant Brands International is acquiring the largest franchisee of the fast food chain, Carrols Restaurant Group, for $1 billion in cash.Toronto-based RBI announced on Tuesday that it reached an agreement to pay $9.55 per share for Carrols, which operates 1,022 Burger King restaurants across 23 states, plus 60 Popeyes locations in 60 states.The share price represents a 23.1% premium on Carrols’ 30-day volume weighted average price as of Jan. 12, and a 13.4% premium on the Jan. 12 clos ...