MIAMI – Burger King Corp. announced Thursday that acquisition of 72 Burger King restaurants in Iowa and Nebraska from Simmonds Restaurant Management (SRM).

The company said that the purchase was part of a ongoing portfolio management strategy.

As a result of this deal, we have expanded our company restaurant presence to attractive Midwest markets, enabling us to leverage our existing infrastructure and established brand presence," said Chuck Fallon, president North America Burger King Corp. "We thank Simmonds Restaurant Management, and Mike Simmonds, for their more than 30 years of dedication and commitment to the Burger King brand."

Simmonds, president and CEO of SRM, established the franchisee in 1976 with the first Burger King restaurant in Fremont, Nebraska. Over the years the company increased its restaurant footprint through acquisitions and organic growth.

"The Burger King brand has been very good to my family and restaurant teams," said Simmonds. "The company's interest in acquiring my restaurants coincides perfectly with my desire to simplify my life. It's been a great 32 year partnership and adventure with a world class brand."

Source: Burger King Corp.