February 22, 2017
Restaurant Brands International Inc., which owns the Burger King and Tim Hortons fast-food restaurants, will be acquiring Popeyes Louisiana Kitchen for $1.8 billion in cash. Also financing the deal are commitments from J.P. Morgan and Wells Fargo. The company was advised by Paul, Weiss, Rifkind, Wharton and Garrison LLP. Popeyes received financial advice from UBS and Genesis Capital LLC, and legal counsel from King & Spalding LLP.
Restaurant Brands, headquartered in Oakville, Ontario in Canada, is hoping to use its international reach to introduce Popeyes’ Louisiana-style friend chicken and sides to more global diners. Popeyes began as a “Chicken on the Run” restaurant in the New Orleans metro in the early 1970s. The chain currently has more than 2,000 restaurants.
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