Restaurant Brands International
OAKVILLE, Ontario and ATLANTA, GA - February, 21, 2017 - Restaurant Brands International Inc. ("RBI") (NYSE/TSX: QSR, TSX, QSP) and Popeyes Louisiana Kitchen, Inc. ("Popeyes") (NASDAQ: PLKI) announced today that the companies have reached an agreement for RBI to acquire Popeyes for $79.00 per share in cash, or $1.8 billion.
The acquisition of Popeyes will add a successful, highly-regarded brand with strong customer loyalty to RBI, one of the largest global quick service restaurant companies with two of the world's most iconic QSR brands – Burger King® and Tim Hortons®.
About Restaurant Brands International
Restaurant Brands International is one of the world's largest quick service restaurant companies with approximately $23 billion in system sales and over 18,000 restaurants in 100 countries. Restaurant Brands International owns two of the world’s most prominent and iconic quick service restaurant brands – Tim Hortons® and Burger King®. These independently operated brands have been serving their respective guests, franchisees, and communities for over 50 years.
Visit the Restaurant Brands International website at www.rbi.com
About Burger King
Founded in 1954, Burger King® is the second largest fast food hamburger chain in the world. The original Home of the Whopper, the Burger King® system operates in approximately 14,000 locations serving more than 11 million guests daily in 100 countries and territories worldwide. Approximately 100 percent of Burger King® restaurants are owned and operated by independent franchisees, many of them family-owned operations that have been in business for decades.
Visit the Burger King website at www.bk.com
About Tim Hortons
Tim Hortons® is one of the largest restaurant chains in North America and the largest in Canada. Operating in the quick service segment of the restaurant industry, Tim Hortons® appeals to a broad range of consumer tastes, with a menu that includes premium coffee, hot and cold specialty drinks (including lattes, cappuccinos and espresso shots), specialty teas and fruit smoothies, fresh baked goods, grilled Panini and classic sandwiches, wraps, soups, prepared foods and other food products. As of September 28, 2014, Tim Hortons® had 4,590 system wide restaurants, including 3,665 in Canada, 869 in the United States and 56 in the Gulf Cooperation Council.
Visit the Tim Hortons website at http://www.timhortons.com/
About Popeyes Louisiana Kitchen
Founded in New Orleans in 1972, Popeyes has 45 years of history and culinary tradition and is the franchisor and operator of Popeyes® restaurants. Today Popeyes is one of the world's largest quick service restaurant chicken concepts with over 2,600 restaurants in the U.S. and 25 other countries around the world and its global footprint will complement RBI's existing portfolio of over 20,000 restaurants in more than 100 countries and U.S. territories.
Visit the Popeyes Louisiana Kitchen website at www.http://www.popeyes.com/