Popeyes Louisiana Kitchen, Inc. (NASDAQ:PLKI) was founded in 1972, formerly known as AFC Enterprises, Inc., changed its current name in January 2014, headquartered in Atlanta, Georgia, with 2,130 full-time employees. It is a US company Fried chicken chain restaurant company, develops, operates and franchise popeyes Louisiana Kitchen and Popeyes Chicken & Biscuits (Popeyes fried chicken & muffins) brand fast food restaurants.
In February 2017, Burger King’s parent company Restaurant Brands acquired Popeyes Louisiana Kitchen, Inc. for US$1.8 billion.
Popeyes Louisiana Kitchen (PLKI):
Popeyes Louisiana Kitchen, Inc. is an American multinational fried fast food restaurant company founded in New Orleans, Louisiana in 1972. It was acquired by AFC Enterprises (formerly America’s Favorite Chicken Company) in 1993. As of October 11, 2016, Popeyes Louisiana Kitchen owns and franchises 2,594 restaurants in the United States, District of Columbia, Guam, Puerto Rico, Cayman Islands and 26 other countries.
Popeyes Louisiana Kitchen (PLKI) History:
- On June 12, 1972, Popeyes Mighty Good Fried Chicken opened its first store-Chicken on the Run, and began to cooperate with KFC compete ;
- In April 1991, Copeland Enterprises filed for bankruptcy protection;
- In October 1992, the court ruled that America’s Favorite Chicken Company, Inc. (AFC), the creditor of Copeland Enterprises, became the parent company of the former;
- In 2001, AFC IPO raised $142,818,479;
- On December 29, 2004, AFC sold its Church’s to Arcapita (formerly Crescent Capital Investments) and retained Popeyes;
- On June 17, 2014, Popeyes announced that it had re-acquired full control of its diversified foods and condiments, recipes and other proprietary food preparation technologies from Diversified Foods & Seasonings (after the creditors sold Popeyes to AFC, it has been in Al Under the control of Copel); Popeyes will continue to obtain condiments, recipes and technical authorization from DF&S, and then directly purchase them for $43 million. DFS will continue to be the main supplier of Popeyes until at least 2029;
- On February 13, 2017, the media reported that Restaurant Brands International , the parent company of Burger King and Tim Hortons, intends to acquire Popeyes. On February 21, Restaurant Brands announced that it would acquire Popeyes for US$1.8 billion.