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Burger King’s owner is buying Popeyes for $1.8 billion

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Burger King’s owner is buying Popeyes for $1.8 billion
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Burger King and Popeyes Louisiana Kitchen are about to become part of the same family! 

Restaurant Brands International (RBI), owner of Burger King and Tim Hortons, announced that it plans to acquire Popeyes for $1.8 billion. 

Read more: This fast food ‘deal’ actually costs you more money

Popeyes is getting a new owner 

Founded in New Orleans in 1972, Popeyes is one of the world’s largest fast-food chicken restaurants with over 2,600 locations in the U.S. and 25 countries worldwide.

Meanwhile, Burger King operates 15,000 locations around the world.

After the deal is done, Popeyes will be managed independently in the United States, relying on the resources of RBI, according to a news release.

What does this mean for you? Perhaps a new Popeyes will be coming to your town!

‘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,” said Daniel Schwartz, Chief Executive Officer of RBI. “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.’

According to the NPD Group, quick service restaurants are expected to see an uptick in traffic this year, but it remains a challenging environment for the industry overall.

Analysts are predicting more deal promotions than usual as restaurants compete for your dollar.

Read more: These 5 restaurant chains face a difficult 2017

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Mike Timmermann About the author:
Michael Timmermann paid off his mortgage in two years. Now, he shares his money-saving tips on his blog, Save on Almost Everything.
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