Restaurant Brands International Expands With $1.8 Billion Acquisition
Restaurant Brands International, one of the largest global quick service restaurant companies with two of the world’s most iconic QSR brands – Burger King and Tim Hortons – is expanding its US and global footprint with the acquisition of Popeyes for $1.8 billion. Popeyes is one of the world’s largest quick service restaurant chicken concepts with over 2,600 restaurants in the US and 25 other countries around the world.
The acquisition of Popeyes will add a successful, highly-regarded brand with strong customer loyalty to RBI, complement its existing portfolio of over 20,000 restaurants in more than 100 countries and US territories.
Following the closing of the transaction, Popeyes will continue to be managed independently in the US, while benefitting from the global scale and resources of RBI. Building on the momentum of recent years, RBI plans to continue developing the brand at an increasing pace in the US and international markets in the years to come.
Daniel Schwartz, chief executive of RBI, says: “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. 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. We look forward to taking an already very strong brand and accelerating its pace of growth and opening new restaurants in the US and around the world.”
