Emily Tan
Feb 22, 2017

Burger King parent buys Popeyes for $1.8 billion

Chain has locations in Singapore, Japan, South Korea, Singapore, Hong Kong, Malaysia and Indonesia.

Burger King parent buys Popeyes for $1.8 billion

Restaurant Brands International (RBI) has agreed to buy fried chicken chain Popeyes Louisiana Kitchen for $1.8 billion.

RBI is the parent company of Burger King and Canadian chain, Tim Hortons.

Founded in New Orleans in 1972, Popeyes has 2,600 restaurants in the US and 25 other countries. In Asia, the chain's website lists 10 locations in Singapore, 11 in Japan, 20 in Vietnam, 117 in South Korea, and single outlets in airports in Hong Kong, Malaysia and Indonesia. The company owns around 30 restaurants, while the rest are franchised.

Once the deal is closed, Popeyes will continue to be managed independently in the US, while benefitting from RBI’s global reach and scale. RBI plans to develop the brand at an increasing pace in the US and international markets.

"Popeyes is a powerful brand with a rich Louisiana heritage that resonates with guests around the world," said Daniel Schwartz, chief executive of RBI in a statement. "With this transaction, RBI is adding a brand that has a distinctive position within a compelling segment and strong US. and international prospects for growth."

Under the terms of the transaction, Popeyes shareholders will receive $79 in cash per share at closing.

"RBI has observed our success and seen the opportunity for exceptional future unit growth in the US and around the world. The result is a transaction that delivers immediate and certain value to the Popeyes’ shareholders," said Cheryl Bachelder, chief executive of Popeyes.

Popeyes’ current creative agency of record is Austin-based GSD&M.

Campaign UK

Related Articles

Just Published

3 hours ago

'Laundrette': BBH's CMO on the ad that built the agency

Bartle Bogle Hegarty's global CMO reflects on the significance of the 1985 Levi's ad 'Laundrette', following the death of its star, Nick Kamen, this week.

4 hours ago

Neil Christie to leave Wieden+Kennedy

Christie had been supporting the agency in Brazil, China, India and Japan as director of growth markets since 2019.

4 hours ago

Adidas and Nike sales plummet following boycotts

Both brands reported plummeting sales on China’s e-commerce channel, Tmall, in April.

4 hours ago

Software giant SAS launches biggest brand campaign ...

The analytics company is building awareness as competition heats up.