Burger King Owner to Buy Biggest Franchisee for $1 Billion (4)

The owner of Burger King plans to buy its largest US franchisee for about $1 billion in cash in a bid to fast-track an overhaul of hundreds of locations and win back customers.

Restaurant Brands International Inc. said it expects to complete its purchase of Carrols Restaurant Group Inc. by the second quarter and spend a further $500 million to remodel 600 of Carrols’ more than 1,000 locations.

“This presents an opportunity for us to really take charge of the BK US image transformation,” Tom Curtis, president of Burger King US and Canada, said Tuesday on a call with ...