Page "Burger King" Paragraph 12

The twenty-first century saw the company return to independence when it was purchased from Diageo by a group of investment firms led by TPG Capital for in 2002.

The new owners rapidly moved to revitalize and reorganize the company, culminating with the company being taken public in 2006 with a highly successful initial public offering.

The firms ' strategy for turning the chain around included a new advertising agency and new ad campaigns, a revamped menu strategy, a series of programs designed to revamp individual stores, a new restaurant concept called the BK Whopper Bar, and a new design format called 20 / 20.

These changes successfully re-energized the company, leading to a score of profitable quarters.

Yet, despite the successes of the new owners, the effects of the financial crisis of 2007 – 2010 weakened the company's financial outlooks while those of its immediate competitor McDonald's grew.

The falling value of Burger King eventually lead to TPG and its partners divesting their interest in the chain in a sale to 3G Capital of Brazil.

Analysts from financial firms UBS and Stifel Nicolaus agreed that 3G would have to invest heavily in the company to help reverse its fortunes.

After the deal was completed, the company's stock was removed from the New York Stock Exchange, ending a four-year period as a public company.

The delisting of its stock was designed to help the company repair its fundamental business structures and continue working to close the gap with McDonald's without having to worry about pleasing shareholders.

In the United States domestic market, the chain has fallen to third place in terms of same store sales behind Ohio-based Wendy's.

The decline is the result of 11 consecutive quarters of same store sales decline.