Burger King Owners Buys Popeyes for $1.8 Billion
Last week we reported that Burger King/Tim Hortons was looking to buy the Southern Cajun cuisine fast-food chain, Popeyes, and now the deal has been finalized. Restaurant Brands, the new Canada-based parent company of Burger King and Tim Hortons bought Popeyes in a $1.8 billion deal that has made the Southern chain’s stock skyrocket 20 percent to $79 a share, according to CNN Money.
“We’re taking an already very strong brand and accelerating its pace of growth and opening new restaurants in the U.S. and around the world,” Restaurant Brands CEO Daniel Schwartz said in a statement.
Restaurant Brands stocks have in general been “hotter” than those of competitors like McDonald’s, Wendy’s, and Yum! Brands.
But what does this mean for customers who are not financial investors and just want to guarantee a quality chicken sandwich? Headquarters for Restaurant Brands International may be located in Canada, but Popeyes operations will remain in Georgia.
At least some Popeyes-lovers have made a racial connection between the Louisiana-based Southern kitchen’s “sellout” and possible future unwanted menu changes, however Popeyes has clarified that it won't be changing a thing: “Never fear, chicken lovers. We may be joining the King’s family, but our recipes are here to stay."
When my sister told me Burger King bought Popeyes pic.twitter.com/ET9o4VEC7N
— DATWAY (@CrzyFinessin) February 21, 2017
— educated shrimp (@yaperboi) February 14, 2017