Burger King

Andrew Hill

I hope activist Bill Ackman knows what he’s getting into by backing the purchase of a 29 per cent stake in Burger King.

Mr Ackman is one of the founders of Justice Holdings, a UK investment vehicle that until Tuesday was, to me at least, as little-known as Burger King is famous. But Justice’s decision to buy a minority stake and take the company on to the New York Stock Exchange reminded me how, a few years ago, a rumour that Warren Buffett had his eye on the chain turned out to be a whopperRead more

John Gapper

Burger King’s return to private equity ownership in the hands of the Brazilian-backed 3G Capital is not a good reflection on the buyout industry’s claim to make its money by fixing companies rather than through financial engineering.

The TPG-led private equity consortium that formerly owned Burger King and then floated it in 2006 has not achieved what the industry often claims – to re-engineer a company privately in a way that gives it a long-term future in public hands. Read more