Newspaper article St Louis Post-Dispatch (MO)

Burger King and Tim Hortons Owner to Buy Popeyes for $1.8 Billion (Print Version)

Newspaper article St Louis Post-Dispatch (MO)

Burger King and Tim Hortons Owner to Buy Popeyes for $1.8 Billion (Print Version)

Article excerpt

NEW YORK * Restaurant Brands International says it'll pay $1.8 billion for Popeyes, bringing the fried chicken chain under the same corporate umbrella as Burger King and Tim Hortons.

The move fits Restaurant Brands' strategy of taking over well- known fast-food chains that it believes have the potential for wider expansion. The deal gives Popeyes shareholders $79 per share, a 19 percent premium from its closing price on Friday. On Tuesday, the shares soared 19 percent to close at $78.73, near the offer.

Restaurant Brands was created after Burger King, controlled by Brazilian investment firm 3G Capital, bought Tim Hortons in 2014.

The corporate name it took signaled the company's aim of expanding its stable of fast-food chains.

In the meantime, Restaurant Brands has been striking deals with local operators to open additional Burger King outlets around the world. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.