COMPANY HISTORY
FIELDSTONE RESTAURANTS CORP.
Burger King Corp. opened its first store in 1954 in Miami, Florida. In the past 39 years, Burger King has grown to over 6,700 stores world wide, making it the second largest fast food chain. In 1967 Burger King was acquired by Pillsbury Corporation of Minneapolis, Minnesota. Pillsbury was then acquired by Grand Metropolitan PLC of Great Britain in 1989, making Burger King it's wholly owned subsidiary.
In August of 1979, T T & T Inc., a franchisee of Burger King, opened it's first restaurant in Albert Lea, MN. The company was owned by the Thompson Family and operated by Wayne A. Thompson. In 1983, a second corporation was formed called the Fieldstone Restaurants Corporation. The new company became the operator of Burger King stores in Clear Lake and Mason City, Iowa.
On May 30, 1986, John St. Germain became an equal shareholder with Wayne A Thompson in Fieldstone, and T T & T Inc. for the purpose of operating and developing Burger King restaurants in Southern Minnesota, and Northern Iowa.
On August 31, 1988, T T & T Inc. was merged into Fieldstone Restaurants Corporation. Today Fieldstone Restaurants Corporation owns and operates Burger King restaurants.
On January 1, 1998, Wayne Thompson formed RWC Development Co. LLC, and purchased the assets of Minnesota Funding, along with Fieldstone Restaurants purchasing the stock of John St. Germain as Treasury Stock. This left Wayne owning 100% of RWC Development Co. LLC, with seven locations leased to Fieldstone Restaurants Corp, and Wayne owning 100% of the outstanding stock in Fieldstone Restaurants Corporation.
Additional new restaurant development and acquiring existing Burger King Restaurants is planned as market conditions warrant.