Popeyes acquired by Burger King owner for $1.8 billion
One of the world's largest quick service restaurant companies just got bigger.
Restaurant Brands International (RBI), which owns Burger King and coffee chain Tim Hortons, announced this morning it has acquired Atlanta-based Popeyes Louisiana Kitchen for $1.8 billion. Popeyes will continue to operate independently in the U.S. after the transaction closes by early April.
Popeyes, a fast-growing 45-year-old chicken restaurant, has more than 2,600 eateries in the U.S. and 25 countries around the world.
"As Popeyes becomes part of the RBI family we believe we can deliver growth and opportunities for all of our stakeholders including our valued employees and franchisees," RBI CEO Daniel Schwartz said. "We look forward to taking an already very strong brand and accelerating its pace of growth and opening new restaurants in the U.S. and around the world."
Read more: http://www.al.com/business/index.ssf/2017/02/popeyes_acquired_by_burger_kin.html