Burger King Owner to Buy Popeyes for $1.8 Bil­lion

The Economic Times - - Around The World -

New York: Res­tau­rant Brands In­ter­na­tional Inc, owner of the Burger King and Tim Hor­tons fast­food chains, said on Tues­day it would ac­quire Popeyes Louisiana Kitchen for $1.8 bil­lion. The deal is a bet by On­tario-based Res­tau­rant Brands that it can use its in­ter­na­tional reach to in­tro­duce Popeyes’ Louisiana-style fried chicken and but­ter­milk bis­cuits to more din­ers glob­ally. Popeyes share­hold­ers will get $79.00 for each share they hold, a 19.5% pre­mium to the stock’s Fri­day close. Popeyes, whose fans in­clude pop singer Bey­oncé, be­gan 45 years ago as a South­ern-fried “Chicken on the Run” res­tau­rant in a New Or­leans sub­urb. Reuters

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