Burger King Sale Gets Well-Done For $1.5 Billion

NEW YORK -- Calling it an import step in developing the company's strategy, Diageo, Inc. Friday said it has finally completed the on-again, off-again sale of its Burger King division to a consortium led by Texas Pacific Group (TPG).

Sale price was put at $1.5 billion."The sale of Burger King represents an important step for Diageo in delivering its strategy to focus on its premium drinks business," Paul Walsh, Diageo CEO, said in a statement. "Since that time, Diageo has concluded major transactions to realign the strategic focus of the group, including the sale of Pillsbury to General Mills and the acquisition, jointly with Pernod Ricard, of the Seagram's spirits and wine business. Diageo is now well positioned to deliver superior levels of growth and return on invested capital."

Nike, Culpepper Settle Endorsement Lawsuit

NEW YORK -- Nike said Thursday that it has settled a lawsuit filed against Daunte Culpepper, quarterback with the Minnesota Vikings. The settlement permits Culpepper to continue to endorse and exclusively wear and use Nike products throughout the current NFL season. "Nike believed Culpepper remained under contract when Nike exercised its right to match the Reebok offer."

Culpepper and his representatives felt that Nike's offer did not match the Reebok offer, which prompted the lawsuit.

"We've very happy that Daunte will continue to be a member of the Nike athlete family," Bill Kellar, director of Nike football sports marketing, said in a statement. Culpepper offered that "I'm very glad to get this issue settled and that we've been able to put our differences behind us."

Fuente: www.brandchannel.com

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