OAKVILLE, ON – The parent owner of Tim Hortons and Burger King announced a $1.8 billion acquisition of Popeyes Louisiana Kitchen Tuesday morning.
Restaurant Brands International announced the deal, paying $79.00 per share in cash, or $1.8 billion.
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Following the closing of the transaction, Popeyes will continue to be managed independently in the U.S., 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 U.S. and international markets in the years to come.
Founded in New Orleans in 1972, Popeyes has 45 years of history and culinary tradition and is the franchisor and operator of Popeyes restaurants.
Today Popeyes is one of the world's largest quick service restaurant chicken concepts with over 2,600 restaurants in the U.S. and 25 other countries around the world and its global footprint will complement RBI's existing portfolio of over 20,000 restaurants in more than 100 countries and U.S. territories.