NEW YORK (Bloomberg) — Burger King Holdings Inc. agreed to be acquired by 3G Capital in a deal valued at $4 billion including debt, giving the New York investment firm control over the second-largest US hamburger chain.

The $24-a-share price is 46 percent more than Miami-based Burger King's close on Tuesday, before reports of a deal surfaced. Under the terms of the agreement, Burger King can solicit superior bids through October 12, according to a statement yesterday.

The chain's sales growth has slowed for two straight years as consumers ate out less to deal with the US economic slump. Burger King, which trails only McDonald's Corp. in the US, has seen a slower recovery than its larger rival as its clientele suffered more from the recession, said Tom Forte, an analyst at New York-based Telsey Advisory Group.

"Burger King's heavy user — young, male, and more likely to be a minority — has had a higher rate of unemployment than the McDonald's consumer," Forte said in a telephone interview.

Burger King rose $4.55, or 24 percent, to $23.41 at 10:24 a.m. in New York Stock Exchange composite trading. The gain was the largest since May 2006, when the company went public.

The deal values Burger King at nine times earnings before interest, taxes, depreciation, and amortisation in the year ended June 30. Over the past five years, US restaurant acquisitions closed at a median multiple of 8.2, according to Bloomberg data.

Transactions in the restaurant industry have picked up as the US economy begins to recover, with rival chains such as Wendy's/Arby's Group Inc. attracting interest. 3G, based in New York, has shown interest in fast-food chains in the past, disclosing last year that it owned about 4.2 million shares of Wendy's/Arby's. 3G's disclosure of holdings as of June 30 didn't show any Wendy's/Arby's shares.

3G managing partner Alexandre Behring has ties to fellow Brazilian Jorge Paulo Lemann, having spent a decade at the buyout firm the 71-year-old billionaire founded.