That’s a lot of money.
Popeyes Louisiana Kitchen is known as a reliable fast food chicken joint, although their recent advertising has made them and spokesman Jerry Rice the butt of a few jokes recently. However, their reach is undeniable, and Burger King parent company Restaurant Brands International just put a price on it: $79 per share, or $1.8 billion in total cash.
“Popeyes is a powerful brand with a rich Louisiana heritage that resonates with guests around the world,” said Restaurant Brands International CEO Daniel Schwartz about the deal. RSI also owns coffee and donut chain Tim Hortons, making Popeyes Louisiana Kitchen the third restaurant owned by the group.
Pay attention over the next few years, hopefully this doesn’t affect the food at Popeyes, but you never know. The chain has already been immortalized in more than one hip hop track, most notably “Popular Demand (Popeyes)” by Clipse.