The owner of Burger King and Tim Hortons restaurants has purchased Popeyes Louisiana Kitchen, according to the company's website.
Restaurant Brands International paid $1.8 billion for Popeyes, according to a press release. Popeyes is known for its Louisiana-style offerings, particularly chicken and red beans and rice.
Daniel Schwartz, Chief Executive Officer of RBI, said in a statement, "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."
According to RBI, Popeyes will continue to be managed independently in the United States. Popeyes began 45 years ago as a Southern-themed "Chicken on the Run" restaurant in a New Orleans suburb. It has since expanded to 2,600 restaurants in the United States and abroad.
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