Ownership profile
Who owns Burger King?
Burger King is a wholly owned brand of Restaurant Brands International Inc. (NYSE/TSX: QSR), a publicly traded company whose largest single shareholder is private equity firm 3G Capital, holding approximately 23% of the economic interest as of December 2025 — down from majority control at RBI's 2014 formation, but still wielding significant board-level influence.
Ownership profile
Burger King
Restaurant Brands International Inc. (operating brand: Burger King Company LLC)
Evidence (12)
Burger King Corporation is currently an independently operated subsidiary of RBI; RBI's structure includes five primary segments: Tim Hortons, Burger King, Firehouse Subs, Popeyes Louisiana Kitchen, and International.
https://en.wikipedia.org/wiki/Burger_KingPrior to 3G Capital, Burger King was owned from 2002–2010 by a consortium of private equity firms: TPG Capital, Bain Capital, and Goldman Sachs Capital Partners, who took it public in 2006.
https://www.britannica.com/money/Burger-King-Corporation3G Capital acquired Burger King in 2010 in a deal valued at approximately $3.26 billion (roughly $4 billion including assumed debt), taking the company private.
https://legalclarity.org/who-owns-burger-king-parent-company-and-shareholders/A SEC Schedule 13D/A filed December 2025 shows 3G Restaurant Brands Holdings beneficially owns 99,157,902 Exchangeable Units of RBI LP, equating to a 23.22% economic interest based on 327,812,087 common shares outstanding as of October 24, 2025.
https://www.stocktitan.net/sec-filings/QSR/schedule-13d-a-restaurant-brands-international-inc-sec-filing-00a85e65c7c8.htmlIn November 2025, a 3G Capital affiliate (HL1 17 LP) conducted a secondary offering of 17,626,570 RBI common shares, further reducing 3G's stake.
https://www.sec.gov/Archives/edgar/data/0001618756/000161875625000306/rbi-pressreleasepricingnov.htmBurger King's direct corporate parent is Restaurant Brands International Inc. (RBI), which also owns Tim Hortons, Popeyes, and Firehouse Subs, covering over 30,000 restaurants in more than 100 countries.
https://finance.yahoo.com/news/owns-burger-king-answer-isnt-032500481.htmlRBI was formed in 2014 by the $12.5 billion merger between Burger King and Tim Hortons, with 3G Capital as the majority sponsor.
https://en.wikipedia.org/wiki/Restaurant_Brands_InternationalRBI is publicly traded on both the NYSE and TSX under the ticker symbol QSR.
https://www.sec.gov/Archives/edgar/data/0001618756/000161875524000092/exhibit991crgtransactioncl.htmRBI completed the acquisition of Carrols Restaurant Group (Burger King's largest US franchisee) for ~$1 billion in May 2024, with plans to refranchise remodeled stores to smaller operators.
https://www.sec.gov/Archives/edgar/data/0001618756/000161875524000092/exhibit991crgtransactioncl.htmAlexandre Behring, a 3G Capital founding partner, sits on RBI's board of directors, giving 3G direct board-level influence.
https://legalclarity.org/who-owns-burger-king-parent-company-and-shareholders/Over 90% of Burger King locations globally are operated by independent franchisees, not by RBI directly.
https://brandsownedby.com/who-owns-burger-king/As of December 2024, 3G Capital holds approximately 26% voting power in RBI, reduced from ~47% at formation in 2014.
https://en.wikipedia.org/wiki/Restaurant_Brands_InternationalWhat's uncertain
- 3G Capital's exact current stake as of July 2026 could not be verified; most recent confirmed figure is 23.22% economic interest from a December 2025 SEC Schedule 13D/A, following a November 2025 secondary share sale. Stake may have changed further.
- 3G Capital is classified here as 'influenced' (not 'controlled') because its stake has declined from majority (~71% in Burger King pre-2014; ~47-51% at RBI formation) to a significant but no longer majority minority of ~23% as of late 2025. Board influence remains through at least one founding partner directorship.
- The franchise flag reflects that the vast majority of individual Burger King restaurant locations are owned by independent franchisees, not by RBI/Burger King Company LLC directly. Ownership findings pertain to the brand/franchisor level.
- Berkshire Hathaway fully exited its RBI stake as of August 2020 and is no longer a relevant shareholder.
- Some secondary sources cite slightly varying 3G stake figures (23–26%) depending on date and whether voting power vs. economic interest is measured.