Restaurant Brands International Inc. said it’s buying Popeyes Louisiana Kitchen Inc. for $1.8 billion, bringing the fried chicken chain under the same corporate umbrella as Burger King and Tim Hortons.
The move fits with Restaurant Brands’ approach of taking over well-known fast-food chains it sees as having the potential for significant expansion. The deal gives Popeyes shareholders $79 per share, representing a 19% premium from its closing price on Friday.
Restaurant Brands was created after Burger King, controlled by Brazilian investment firm 3G Capital, bought Tim Hortons in 2014. The corporate name it took signaled that the company would add to its stable of fast-food chains. Since then, Restaurant Brands has been striking deals with local operators to open additional Burger Kings around the world and expand Tim Hortons in the U.S.
Restaurant Brands International, which is based in suburban Toronto, makes money from fees it charges franchisees who operate Burger King and Tim Hortons restaurants. It has more than 20,000 locations globally, and Popeyes would give it about another 2,600.
By comparison, McDonald’s Corp. had more than 36,800 locations around the world at the end of 2016.
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Army Lt. Gen. H.R. McMaster is Trump’s new national security advisor. Officer Keith Boyer spent 27 years patrolling the streets of Whittier. It’s legal for an ICE agent to pretend to be an officer in an immigration raid. But should it be? Bernie Sanders spoke in downtown L.A. on Sunday.
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Army Lt. Gen. H.R. McMaster is Trump’s new national security advisor. Officer Keith Boyer spent 27 years patrolling the streets of Whittier. It’s legal for an ICE agent to pretend to be an officer in an immigration raid. But should it be? Bernie Sanders spoke in downtown L.A. on Sunday.
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An overflowing dam threatens homes in Northern California, Adele’s big night at the Grammys, Trump’s national security advisor Michael Flynn resigns, Federal officials say they haven’t broadened the scope of immigration enforcement raids, Enrique Marquez Jr. didn’t take part in the San Bernardino shooting on Dec. 2, 2015.,Russia denies that intelligence agents were in contact with Trump’s campaign team, and when the pastor at a Texas church urged his congregation to embrace refugees, 300 members left.
Surveillance video footage shows the moment a hillside in the San Bernardino County mountains crumbles, sending rocks and snow into a drainage area below.
Surveillance video footage shows the moment a hillside in the San Bernardino County mountains crumbles, sending rocks and snow into a drainage area below.
Alhambra Resident Sergio Aguierre talks about a tree that fell and smashed into power lines on Jackson Avenue during the storm Friday.
Alhambra Resident Sergio Aguierre talks about a tree that fell and smashed into power lines on Jackson Avenue during the storm Friday.
A storm that officials said could be the strongest in years moved into Southern California on Friday.
A storm that officials said could be the strongest in years moved into Southern California on Friday.
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