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RBI Adds Popeyes to QSR Lineup

OAKVILLE, ONT.—The owner of Burger King and Tim Hortons is adding a quick service chicken concept to its portfolio of more than 20,000 locations globally.

Exterior of Popeyes restaurant A Popeyes Louisiana Kitchen location; the company also operates the Popeyes Kitchen & Biscuits franchise.

OAKVILLE, ONT—Restaurant Brands International Inc., owner of the Burger King and Tim Hortons brands, said Tuesday it had acquired to acquire Popeyes Louisiana Kitchen for $79 per share, or $1.8 billion in cash. The deal is expected to close by early April; RBI will finance the acquisition with cash on hand and a financing commitment from J.P. Morgan and Wells Fargo.

The Popeyes name is represented in two franchises that encompass a combined 2,600 locations in the US and internationally: Popeyes Louisiana Kitchen and Popeyes Chicken & Biscuits. It will join a global RBI portfolio that encompasses over 20,000 quick service restaurants in more than 100 countries and US territories.

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Paul Bubny

Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.

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