Burger King’s Owner Restaurant Brands Could Be Lining Up to Acquire Popeyes

The owner of the Burger King and Tim Horton’s fast-food chain, Restaurant Brands international, has reportedly approached Popeyes Louisiana Kitchen about making an acquisition bid. Following the news, shares of Restaurant Brands were up about 5% and shares of Popeyes were up more than 12%.
The potential deal was a bet to use its international reach to take Popeyes Louisiana-style fried chicken and buttermilk biscuit global.
The sources added on Monday that the two companies have not yet agreed on a deal price and there is uncertainty that acquisition talks will continue and definitively lead to any sort of agreement. Both companies declined to comment on the report.
Popeyes has almost 2,000 restaurants, of which 1,600 are in the United States. The company has benefited from strong customer loyalty, as well as from a restaurant refurbishment program.
Restaurant Brands was formed in 2014, when 3G Capital-backed Burger King acquired Canadian coffee and doughnut chain Tim Hortons Inc. for $11 billion.