Carrols Restaurant To Buy 30 Burger King Restaurants

(RTTNews) - Carrols Restaurant Group Inc. (TAST) has agreed to buy 30 Burger King restaurants in eastern North Carolina for about $20 million in cash. The deal is expected to be completed in early October, subject to customary approvals.

The company anticipates that subsequent to closing it will market and enter into sale/leaseback transactions for 10 of the fee-owned properties for total estimated proceeds of $13 million to $14 million.

Daniel T. Accordino, the Company's Chief Executive Officer said, "The addition of these 30 restaurants further expands our presence in North Carolina, where we currently operate 134 Burger King restaurants, and provides us with a stronger foothold in the eastern portion of the state."