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and Goldman Sachs Capital Partners agreed to purchase BK from Diageo for $1.5 billion
(USD), with the sale becoming complete in December of that year. The new owners, through
several new CEOs, have moved to revitalize and reorganize the company, the first major
move was to re-name the BK parent as Burger King Brands. The investment group initially
planned to take BK public within the two years of the acquisition, this was delayed until 2006.
On February 1, 2006, CEO Greg Brenneman announced TPG's plans to turn Burger King into
a publicly traded company by issuing an Initial Public Offering (IPO). On February 16, the
company announced it had filed its registration for the IPO with the Securities and Exchange
Commission. On May 18, 2006, Burger King began trading on the New York Stock Exchange
under the ticker symbol BKC and generated $425 million in revenue, the largest IPO of a US-
based restaurant chain on record.
International expansion
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