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They formed Burger King Corporation as the
parent and began selling territorial franchise licenses to private owners across the US.
In 1967, after eight years of private operation, the Pillsbury Company acquired Burger King
and its parent company Burger King Corporation. At the time of the purchase, BK had grown
to 274 restaurants in the United States. Even though Pillsbury owned and operated the
company, BK was still the object of a series of failed and successful acquisitions and
divestitures. In 1973, Chart House, owner of 350 BK restaurants at the time and one of BK's
largest franchise groups, attempted to purchase the chain from Pillsbury for $100 million
(USD). When Chart House's bid failed, its owners, Billy and Jimmy Trotter, suggested that
Pillsbury and Chart House spin off their respective Burger King holdings and merge the two
entities into a separate company, an offer Pillsbury also declined. After the failed attempts to
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