 Heartland Food Corporation (Heartland) came into existence when Miami-based franchisee Al Cabrera purchased a large chunk of stores, 130 locations primarily in the Chicago and the upper mid-west, from the failed franchise AmeriKing for a bargain basement price of $ 16 million, or approximately 88 % of their original value in December 2003. Taking these stores, he and his partners created a new company called Core Value Partners to renovate and update the locations which had deteriorated during Ameriking's decline. During this time, the company was renamed Heartland Food Corp. and it purchased 120 additional stores from other financially distressed owners and completely revamped them as well. The resulting purchases made Mr. Cabrerra Burger King's largest minority franchisee and Heartland one of BKC's top franchisee groups at the time. By 2006, the company was valued at over $ 150 million, and was sold to New York-based GSO Capital Partners.
