Private equity firm Blackstone Group is planning sell about 260 Burger King Worldwide outlets to Texas-based fast-food franchisee Houston Food.
All the 260 outlets are owned by Blackstone Group's Heartland Food and are located in the Midwestern states.Presently, Heartland owns about 330 Burger King locations in eight Midwestern states.
Blackstone, which acquired Heartland through its GSO Capital Partners unit, agreed to sell the restaurants for less than $100, reports Bloomberg citing an unknown person.
Last month, Carrols Restaurant Group announced plans to acquire 64 of Heartland's restaurants in Tennessee, Indiana and Illinois for about $18m.
Meanwhile, Burger King is working on its own acquisition. In August, the company agreed to buy Tim Hortons for about $11.4bn, creating the third-biggest fast-food company.
Burger King operates over 13, 000 locations worldwide through its independent franchisees.
