Burger King parent eyes Popeyes Louisiana Kitchen
Restaurant Brands International, parent of the Burger King and Tim Hortons fast-food chains, has made an approach to Popeyes Louisiana Kitchen regarding a takeover bid.
Quoting people familiar with the matter, Reuters reports the target is appealing to Restaurant Brands because it believes it can expand the brand internationally using its existing business networks abroad.
Popeyes Louisiana Kitchen has about 2000 stores globally, 80 per cent of them in the US.
It was founded 45 years ago as a Southern-fried “Chicken on the Run” restaurant in a suburb of New Orleans.
No price has yet been agreed – and there is no certainty a takeover will proceed, according to Reuters. But the discussion was enough to boost both Popeyes’ and Restaurant Brands International’s share prices overnight. Popeyes is one of several potential acquisition targets.
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