Burger King Corporation, the world’s second largest quick-service restaurant company, raised US$425 million in an IPO, a landmark offering within the very active QSR industry in the US, in 2006.
The IPO signalled an important turning point in Burger King’s operating history. Following a troubled period under the ownership of parent company Diageo (in which Burger King had 11 CEOs in 9 years) the Company was acquired by a consortium of private equity firms including Goldman Sachs, Texas Pacific Group and Bain Capital.
Burger King underwent a comprehensive re-structuring, re-aligning the interests of the corporation with its franchisees and investing in a new and innovative advertising campaign, a catalyst for accelerated growth.
Just one month before the IPO, former CFO John Chidsey took the helm, as CEO, to bring the Company public.
We provided a range of services, starting with strategic advice. Our project managers worked on-site at Burger King headquarters four weeks ahead of the IPO, liaising with Burger King management, finance and PR departments on all aspects of preparation for the offering, including drafting of the investor Q&A and advising on communications strategy.
We advised on presentation content, completed a comprehensive redesign of the investor presentation to bring it in-line with Burger King's new brand identity and participated in speaker training and rehearsals.
Brand identity and design were integral aspects of the Burger King roadshow, because of the significant investment made in the brand and the prominence of marketing in the QSR business model. We designed and implemented a series of creative environments to emphasise the differentiation of the brand at all group presentations, from large group lunches for over 250 attendees to less formal meetings of around 10 investors.
The priority was to demonstrate the power and ubiquity of Burger King's revitalized brand to the investment community and highlight the extent to which it had permeated popular culture. This included planning and arranging appearances of The Burger King at the large group meetings to reinforce the brand, as well as designing and building a product display and comprehensive environmental branding and video for each meeting.
Our team produced a total of 11 group meetings in the US and Europe. We created a large product display as well as a series of graphic slabs for all group meetings, ensuring a complete brand experience at each meeting.
In terms of logistics, we managed the client team, including four bookrunners and sponsors, travelling through 14 cities in 11 days. We organized the daily meeting schedule, flights, accommodation, venues, catering, ground transportation, dinners and entertainment; we also arranged for Burger King food to be cooked and served at all group presentations. In addition, we provided planning and logistics for Burger King's listing ceremony at the NYSE.
Finally, the Imagination Media Group created a documentary-style film of the Burger King roadshow, to document this seminal event in the Company's history and provide the context for an information cascade to company employees.
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