Burger King Sells 200 Stores to Local Franchisees

Burger King is selling approximately 200 company-owned restaurants to small, local franchisees by the end of 2026. This move is a central component of the company's Reclaim the Flame turnaround strategy, which aims to shift ownership away from private equity-backed buyers toward operators rooted in the communities they serve.

Parent company Restaurant Brands International intends to reduce its direct ownership to roughly 300 locations out of more than 6,000 restaurants in the United States. This refranchising effort follows the 2024 acquisition of Carrols Restaurant Group, which added 1,023 locations to the corporate portfolio. The shift toward an asset-light structure coincides with a $1 billion investment to revamp U.S. stores, with a target of having 85% to 90% of locations meet current design standards by 2028.

These strategic changes have contributed to 8.5% domestic same-store sales growth in the second quarter of 2026. As a result, Burger King has become the second-largest burger chain in the United States by system sales, surpassing Wendy's.