Akerman Senterfitt recently represented Carrols Restaurant Group, Inc., a public company and the largest Burger King franchisee, in the acquisition of 278 of Burger King Corporation (BKC) company-owned restaurants in Ohio, Indiana, Kentucky, Pennsylvania, North Carolina, South Carolina, and Virginia and related financing transactions.
The financing transactions consisted of a Rule 144A offering and sale of $150 million of senior secured second lien notes and a $20 million senior secured revolving credit facility. As a part of the transaction, BKC acquired a 28.9 percent equity interest in Carrols Restaurant Group, Inc. (subject to certain limitations), and total cash consideration was approximately $16.2 million.
Shareholder Wayne Wald and National Corporate Practice Group Chair Mary Carroll were the lead lawyers on the acquisition. They were assisted by of counsel Palash Pandya, shareholders Sue Zabloudil, Rich Bezold, Sarah Campbell Smith, Jonathan Awner, Esther Moreno, Frank Cordero, Peter Salomon, and Jennifer Williams; associates Shannon Sullivan and Allison Glickman; and, a team of real estate and corporate associates across the firm’s New York and Florida offices.
Wald and Pandya were the lead lawyers on the financing transactions. They were assisted by shareholders Gregory Limoncelli and Frank Cordero, and associates John Lee, Dalia DeLeon, and Alex Goone in both the firm’s New York and Florida offices.
Akerman is recognized by U.S. News – Best Lawyers as a leading U.S. law firm for Corporate, M&A, Private Equity, Securities/Capital Markets, and Securities Regulation Law. In addition, Akerman’s Corporate Practice Group is recognized by The Legal 500 within the National Firms – Middle-Market category and is ranked #1 by Chambers USAfor Corporate/M&A & Private Equity in Florida. Akerman’s Corporate Practice Group advises public and private companies, including private equity funds, in mergers & acquisitions, securities offerings, financings and other transactional matters, with a strong focus on the middle market.
