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BK franchisee extends holdings to 112 stores with another acquisition

BURNSVILLE Minn. Burger King franchisee Duke and King Acquisition Corp. has purchased 24 units from Swisshelm Group in Springfield, Mo., boosting the buyer's tally to 112 BK stores and making it one of the system's largest franchisees.

The deal was worth between $15 and $20 million, according to a broker presenting Swisshelm, which had owned the units for about 25 years and wants to focus on its other businesses.

Duke and King, which acquired 88 Burger King stores from Nath Cos. of Bloomington, Minn., last November, now operates in eight states: Minnesota, Illinois, Iowa, Wisconsin, Florida, Missouri, Arkansas and Kansas.

About 90 percent of Burger King's 11,100 units are franchised, with the largest franchisee being Syracuse, N.Y.-based Carrols Restaurant Group, which operates 328 stores.

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