Popeyes Is Getting Bought by Burger King for More Than $1 Billion USD
A fried chicken Whopper hasn’t been confirmed yet.
Restaurant Brands International (RBI), the parent company of fast food burger chain Burger King and coffee chain Tim Horton’s announced this morning that it’s acquiring Popeyes for $1.8 billion USD, $79 USD per share. The acquisition will add Popeyes’ 2,600 restaurants in 26 countries to RBI’s portfolio of over 20,000 restaurants in 100+ countries and U.S. territories.
“Popeyes is a powerful brand with a rich Louisiana heritage that resonates with guests around the world. With this transaction, RBI is adding a brand that has a distinctive position within a compelling segment and strong U.S. and international prospects for growth. We look forward to taking an already very strong brand and accelerating its pace of growth and opening new restaurants in the U.S. and around the world,” said RBI’s CEO Daniel Schwartz.
The transaction is expected to close by early April and is subject to all customary closing conditions which will be handled by J.P. Morgan and Wells Fargo.
No word yet on whether there will be a fried chicken Whopper but we wouldn’t count it out after BK dropped a donut Whopper, Cheetos chicken fries and Whopperito on us last year.
