FAST FOOD
MAY 17, 2021
burger king : the tale of burger kingdom
When we talk about fast food and hamburger, Burger King is definitely one of the restaurants at the top of the list for decades.
The story of Burger King began in 1953. It was founded by Keith J. Kramer and his wife’s uncle, Matthew Burns. The initial name was Insta-Burger King. Inspired by the success of the McDonald’s franchises over in California, they opened their first store in Jacksonville, Florida.
But in 1954, Insta-Burger King had financial problems, then its two Miami-based franchisees David Edgerton and James McLamore purchased the company and renamed it to “Burger King”. At the time hamburgers and milkshakes were 18 cents.
One of the most popular burgers from Burger King is the Whopper. The beefy burger was created by McLamore in 1957 when he noticed that one competitor restaurant was selling a larger burger and having bigger success for that. McLamore felt that the name conveyed “imagery of something big”. Whopper was originally sold for 37 cents. Their biggest rival, McDonald’s, released a similar product in 1968 with the name Big Mac.
In 1963, Burger King opened its first restaurants outside the United States located in Puerto Rico. Edgerton and McLamore finally selling Burger King to Pillsbury Company in 1967 for $18 million. According to Burger King website, the company had 274 restaurants and around 8.000 employees across the world at the time.
Pillsbury management tried to restructure Burger King in the late 1970’s and 1980’s. The Pillsbury executive VP Norman E. Brinker launched a new advertising campaign featuring a series of attack advertisements against their major competitors in the 80’s.
The object was to gain more strength and popularity especially against McDonald’s. This legendary battle was called “The Burger War” and created the decades-long rivalry between McDonald’s and Burger King – Big Mac or Whopper ?
In 1988, Grand Metropolitan PLC acquired the Pillsbury Co. including Burger King for $5.79 billion. Then in April 2012 Burger King Worldwide Holdings Inc. and Justice Holdings Limited listed Burger King on the New York Stock Exchange. On August 26, 2014 Burger King buys Canadian chain Tim Hortons for $11 billion.
Today, Florida is the state with the most Burger King franchises in the United States. As of July 2019, there were 7.237 Burger King all over USA and Florida had the most of it with a total of 571 outlets. Burger King is the second largest fast food hamburger restaurant with more than 12 million customers every day.
According to Forbes, Burger King Holdings, Inc., the parent company, is private and independently owned by 3G Capital. There are more than 12.300 restaurants around the world with 90 percent of them are owned and operated by independent franchisees. 3G Capital completed its acquisition of Burger King in October 2010.
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