Carrols Restaurant Group Completes Acquisition of 43 BURGER KING Restaurants

10/9/18

SYRACUSE, N.Y.--(BUSINESS WIRE)--Carrols Restaurant Group, Inc.  (Nasdaq:TAST) announced that it has recently completed the acquisition of a total of 43 BURGER KING® restaurants as follows:

  • On August 21, 2018, the Company completed the acquisition of two BURGER KING® restaurants in Detroit, MI;
  • On September 5, 2018, the Company completed the acquisition of 31 BURGER KING® restaurants in Virginia (30 restaurants) and in West Virginia (1 restaurant); and
  • On October 2, 2018, the Company completed the acquisition of 10 BURGER KING® restaurants in South Carolina (8 restaurants) and in Georgia (2 restaurants).

The Company also reported that restaurant sales for the third quarter of 2018 totaled $296.9 million, an increase of 4.1% from $285.2 million in the third quarter of 2017. Comparable restaurant sales increased 1.6% in the third quarter of 2018 compared to an increase of 7.5% in the prior year quarter. Carrols also indicated that comparable restaurant sales were negatively impacted by approximately (0.5%) due to Hurricane Florence.

About the Company

Carrols is the largest BURGER KING® franchisee in the United States with 848 restaurants as of October 5, 2018 and has operated BURGER KING® restaurants since 1976. For more information on Carrols, please visit the company's website at www.carrols.com.

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