Latino Billionaire Set To Take Over Burger King

By Michael Lopez

Do you ever wonder who’s behind all of the drive-thrus you see on the street? Sure Taco Bell serves up Mexican burritos and tostadas, but it was actually founded by a white dude from California. Similarly, the char-broiled “American” cuisine of Burger King is now in the hands of a 71-year-old Brazilian billionaire!

Image: Burger King

Of course it doesn’t matter who thought up the idea or makes the corporate decisions, as long as those value meals still taste good we’re happy. A seeing how businessman Jorge Paulo Lemann dropped $3.3 billion for the franchise, we’re sure he wants A LOT of BK fans to be happy.

But the question is, can he take down Burger King’s golden-arched rival? Seeing his business track record, we think Lemann’s got a decent shot. A Harvard grad (and the 48th richest man in the world), Jorge earned the first part of his fortune creating Banco Garantia, a firm that has been dubbed the Goldman Sachs of Brazil.

From there he went on to build AmBev, the biggest brewery in South America (which later merged with Budweiser’s parent company, Anheuser Busch). After that, he formed 3G Capital with other wealthy Brazilian businessmen and began investing in (and enhancing) consumer brands like Wendy’s and Arby’s.

So what’s Lemann got in store for the Home Of The Whopper? Business analysts are predicting new value meals, a stronger international presence, and a marketing plan targeting younger crowds (vs. McDonalds’ “family-friendly” ads). Just within the past few months, BK has added pancake platters and blueberry muffins to its breakfast menu.

We think the change has the potential to be very exciting. Who knows what kind of daring ideas Jorge will be willing to try? Perhaps a Brazilian steak sandwich? Or seeing how he was so closely tied to Anheuser Busch, maybe a beer value meal? Ok probably nothing that drastic, but let’s at least update that creepy King character.

Source: [Bloomberg]

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Tags Brazil, Burger King, Business, Cultura, Jorge Paulo Lemann, McDonalds