3G CAPITAL said yesterday it plans to name Bernardo Hees chief executive of Burger King Holdings when it closes its $3.26bn (£2.11bn) purchase of the world’s second-largest hamburger chain later this year.
Hees, who joined the US private equity firm as a partner in July, was most recently boss of America Latina Logistica, Latin America’s largest railroad company, where he also served as a director. America Latina Logistica hired Hees in 1998 and his earlier posts included logistics analyst and chief financial officer.
3G managing director Alex Behring said in a statement that Hees improved performance at America Latina Logistica, delivering “strong gains” in both revenue and profitability. “I know he will be an excellent steward of the Burger King brand as we look to take the Burger King experience to the next level for guests in the US and worldwide,” Behring said.
John Chidsey, Burger King’s current chief executive and chairman, will keep his roles during a transition period and then become co-chairman with 3G’s Behring.
Its sale to 3G, worth about $4bn including debt, is expected to close in the last three months of 2010. Burger King has until 12 October to solicit a richer offer from other buyers.
City A.M. Reporter