Benzinga | Jul 8, 2021 08:35AM EDT

Carrols Restaurant Group Acquires 19 BURGER KING Restaurants In Indiana And Michigan

Carrols Restaurant Group, Inc. ("Carrols" or the "Company") (NASDAQ:TAST) today announced that it recently acquired 19 BURGER KING(r) restaurants in Indiana and Michigan.



Daniel T. Accordino, the Chairman and Chief Executive Officer of Carrols, commented, "As we have stated previously, with our Adjusted Leverage Ratio (as defined in our senior credit facility) below four times, we have been pursuing opportunistic bolt-on transactions to grow our overall portfolio. These 19 restaurants, which were acquired in two separate transactions, constitute our first multi-restaurant acquisitions in more than two years and increase our store count in two large Midwestern states where we already have a significant presence. Importantly, we believe that we can improve upon the average sales volume of these restaurants and increase their margins over time as we integrate them into our existing operations."