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McDonald's to Sell Boston Market to Sun Capital

Reuters
Monday, 6 Aug 2007 | 2:47 PM ET

McDonald's, the world's biggest restaurant company, said Monday it reached a deal to sell its Boston Market chicken chain to private equity firm Sun Capital Partners for an undisclosed amount.

The fast-food company said in January it was exploring options for Boston Market as part of a strategy to focus on its primary hamburger chain.

In a filing with the U.S. Securities and Exchange Commission, McDonald's said it expected the Boston Market deal to be completed in the current quarter. It does not expect to record a loss for the sale.

In recent years, McDonald's has sold several secondary brands, including Chipotle Mexican Grill Inc. and Donatos Pizza, to concentrate on boosting sales at its Golden Arches restaurants.

As of June 30, Boston Market's total assets were $180 million, with total liabilities of $89.1 million, according to the filing.

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