Burger King owner will buy out its biggest franchisee in US for about $1 billion

The parent company of Burger King is buying out its biggest franchisee in the U.S. for about $1 billion. Restaurant Brands International Inc. will acquire all of the issued and outstanding shares of Carrols Restaurant Group Inc. that it doesn’t already hold for $9.55 per share. Carrols runs 1,022 Burger King restaurants in 23 states. It also owns and operates 60 Popeyes restaurants in six states.