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Carrols completes acquisition of 43 Burger King restaurants in five states

By Eric Reinhardt

Date:

Burger King in Clay
Photo of the Burger King restaurant on Route 57 in Clay by Adam Rombel/ BJNN. Carrols Restaurant Group, Inc. (NASDAQ: TAST) has recently completed the acquisition of 43 Burger King restaurants in Georgia, South Carolina, Virginia, West Virginia, and Michigan.

SYRACUSE, N.Y. — Carrols Restaurant Group, Inc. (NASDAQ: TAST) on Monday said that it has recently completed the acquisition of a total of 43 Burger King restaurants in three separate closings since Aug. 21.

The company also reported its third-quarter sales rose compared to a year ago.

Carrols on Oct. 2 finished its purchase of eight restaurants in South Carolina and two in Georgia, the firm said in a news release.

Earlier, on Sept. 5, Carrols completed its acquisition of 30 Burger King restaurants in Virginia and one in West Virginia. On Aug. 21, the company finished its purchase of two Burger King restaurants in Detroit, Michigan.

Syracuse–based Carrols is the largest Burger King franchisee in the U.S. with 848 restaurants as of Oct. 5 and has operated Burger King restaurants since 1976.

Third-quarter sales

Besides the restaurant acquisitions, Carrols also reported that restaurant sales for the third quarter of 2018 totaled nearly $297 million, an increase of 4 percent compared to the sales total of $285.2 million in the third quarter of 2017.

Comparable restaurant sales increased 1.6 percent in the third quarter of 2018 compared to an increase of 7.5 percent in the prior-year quarter.

Carrols indicated that Hurricane Florence “negatively impacted” the third quarter comparable-restaurant sales figure by 0.5 percent.

Contact Reinhardt at ereinhardt@cnybj.com

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