TL;DR
Restaurant Brands International (RBI) has purchased Popeyes Louisiana Kitchen for $1.8 billion, with plans for international growth. The acquisition will bring RBI's total restaurant count to over 23,000 worldwide.
The parent company of Burger King and Tim Hortons, Restaurant Brands International, has purchased Popeyes Louisiana Kitchen for $1.8 billion according to a recent QSR Magazine article. Once the deal is official, RBI will own more than 23,000 restaurants in total throughout the world.
Of Popeyes’ 2,600 locations, close to 98 percent are franchised. A majority of the locations reside in 11 states and RBI expects the brand’s growth to start to take off in international markets.
“The key to long-term success for all of our brands will be to focus on driving guest satisfaction and franchisee profitability,” Schwartz says.
In this story
This story was originally published in 1851 Franchise on February 22, 2017. Burnaze summarizes and links to the original reporting.
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