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Burger King, often abbreviated as BK, is a global chain of hamburger fast food restaurants headquartered in unincorporated Miami-Dade County, Florida, United States. Burger King Holdings is the parent company of Burger King; in the United States it operates under the Burger King Brands title while internationally it operates under the Burger King Corporation banner. The company began as a Jacksonville, Florida-based restaurant chain in 1953. Originally called Insta-Burger King. After the company ran into financial difficulties in 1955, its two Miami-based franchisees, David Edgerton and James McLamore, purchased the company and rechristened it Burger King. Over the next half century the company would trade hands four times, with its third set of owners, a partnership of TPG Capital, Bain Capital, and Goldman Sachs Capital Partners, taking the company public in 2002. The current ownership group, 3G Capital of Brazil, acquired a majority stake in the company in a deal valued at $3.26 billion (bn) in late 2010.