For the first time in its 52-year history, Burger King Corp.’s parent company said Wednesday it plans to sell shares of its stock to the public. The attempt marks the fast food chain’s effort to increase its competitive edge against rivals including it top competitor McDonald’s.
Burger King Holdings, Inc. plans to file with the Securities and Exchange Commission for an initial public offering late this month or in early March, the company said.
“Our goal has always been to take Burger King public,” said Burger King Chairman and CEO Greg Brenneman in a statement. “We believe this transparency and stability in ownership offered by being a public company will benefit our employees and franchises for years to come.”
The company declined further comment citing U.S. securities law.
Burger King was the second-largest hamburger chain behind leader McDonald’s, but fell in a tie with Wendy’s in 2004, according to news reports.
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