Carrols Restaurant Group Properties For Sale
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15 – 20 Years
10% Every 5 years
20 – 40 Years
Absolute NNN Lease
Corporate and Franchise
About Carrols Restaurant Group :
in the world; Carrols owns and operates over 650 Burger King locations
across 20 U.S. states.
The company formerly
owned the restaurant chainsPollo
Tropical,Taco Cabana, and
Carrols. The original Carrols chain ceased operations in the United States in the mid-1970s. The last
Restaurantsexisted in Finland.
The chain was eventually bought out by another Finnish fast-food chain,Hesburger. In
2012, Hesburger announced that the brand Carrols would be discontinued; the last Carrols (in Oulunkylä) was
renamed Hesburger on May 29.
An offshoot of
company, it was named for the daughter of Tastee-Freez co-owner Leo
Herb Slotnick bought
the franchise rights for the New York area and started opening restaurants in theSyracuse, New
Yorkarea in the early
1960s. They expanded over the years throughoutNew York state.
During the 1960s, a yellow slug character served as Carrols' first mascot, replaced in 1974 by a young blonde
boy wearing a tweed suit and a Fedora hat.
restaurant locations were converted to Burger King franchises in 1975, with less profitable stores shuttered.
After the conversion, the Carrols brand was only found overseas inFinland,
for a single franchisee-owned store inBatavia, New
Yorkwhich operated under
the Carrols name into the 1980s before closing.
The Finnish group Carrols, opened up several locations in St. Petersburg,
Russia in the mid-to-late 1990s. In 1998 they opened their first operation in Moscow, located at 'then' the new
Ohotni Riad Mall. Unfortunately, because of the Financial Crisis of 1998, their operations did not generate
enough sales for Carrols, and by 2000 all Carrols outlets in Russia were closed.
to buy out the last existing Carrol's locations inHelsinki, Finland
in the mid-2000s.
On December 9, 2005, Carrols Holdings and Mimi's Café was filed for
In February 2011 the company announced it was divesting itself of its two
Spanish themed chains, Taco Cabana and Pollo Tropical, in a spin-off aimed at helping the company focus on its
core Burger King operations.The sale of the two chains, collectively called the Fiesta Restaurant
Group, was completed in May 2012.
In June 2012, Carrols acquired 278 Burger King locations from Burger King
for approximately$150 million. In exchange, the Burger King parent, Burger King Corporation took a 28.9% stake
in the company. The transaction involved a line of credit that would be used by Carrols to renovate more than
450 of its stores.
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