Burger King, often abbreviated as
BK, is a global
chain of
hamburger fast food restaurants headquartered in
unincorporated Miami-Dade County, Florida, United States. The company began in 1953 as Insta-Burger King, a
Jacksonville, Florida-based restaurant chain. After Insta-Burger King ran into financial difficulties in 1955, its two Miami-based franchisees,
David Edgerton and
James McLamore, purchased the company and renamed it Burger King. Over the next half century the company would change hands four times, with its third set of owners, a partnership of
TPG Capital,
Bain Capital, and
Goldman Sachs Capital Partners, taking it public in 2002. In late 2010 3G Capital of Brazil acquired a majority stake in BK in a deal valued at $3.26 billion. The new owners promptly initiated a restructuring of the company to reverse its fortunes.