Restaurant Brands International (RBI), the parent company of Burger King and Tim Hortons, announced Tuesday that it would acquire Popeyes Louisiana Kitchen for $79.00 per share in cash or $1.8 billion.
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Restaurant Brands International operates more than 20,000 restaurants in more than 100 countries.
Founded in New Orleans in 1972, Popeyes has 45 years of history and culinary tradition and is the franchisor and operator of Popeyes restaurants. Following the closing of the transaction, Popeyes will continue to be managed independently in the U.S.
RBI plans to continue developing the brand at an increasing pace in the U.S. and international markets in the years to come.
Image – Flickr