Today, Popeyes® brand and
Cartesian Capital Group, LLC
(“Cartesian”) are excited to announce they have entered into a non-binding term sheet for the exclusive development of the
Popeyes
brand across the People’s
Republic of China
in the coming years. The consummation of the transaction is subject to execution of definitive documents, customary due diligence and approvals of the parties.
“We are proud to grow the
Popeyes
brand in
China
and to bring its famous Chicken Sandwich and iconic products to guests in this exceptionally dynamic market,” said
Peter Yu
, Managing Partner of Cartesian. “We are excited to build on our long-standing and successful relationship with RBI, spanning over a decade and most recently including our rapid development of more than 450 Tim Hortons cafes across China.” Cartesian is committed to offering a seamless in-store experience to serve guests in the iconic hospitable way that is characteristic of the
Popeyes
brand.
Founded in
New Orleans
in 1972,
Popeyes
has more than 50 years of history and culinary tradition.
Popeyes
distinguishes itself with a unique
New Orleans
style menu featuring the iconic chicken sandwich, spicy chicken, chicken tenders, fried shrimp, and other regional items.
Popeyes
uses proprietary seasonings and techniques developed by an in-house culinary team of chefs that makes its fried chicken a point of reference for Michelin Chefs and celebrities.
The brand's passion for its
Louisiana
heritage and flavorful authentic food has allowed
Popeyes
to become one of the world's largest chicken quick-service restaurants with over 3,850 restaurants in over 30 countries around the world.
Today’s announcement contributes to the brand’s growth strategy to increase its presence in key markets across the world. Since 2021,
Popeyes
has announced agreements to enter
South Korea
,
France
,
Romania
, the
United Kingdom
and
India
, and to expand in
Mexico
and
Saudi Arabia
. Other international expansions over the past years include
Spain
,
Philippines
,
Brazil
,
Switzerland
, and
Sri Lanka
.
About
Restaurant Brands International Inc.
Restaurant Brands International Inc.
is one of the world's largest quick service restaurant companies with more than
$35 billion
in annual system-wide sales and over 29,000 restaurants in more than 100 countries. RBI owns four of the world's most prominent and iconic quick service restaurant brands – TIM HORTONS®, BURGER KING®, POPEYES® and FIREHOUSE SUBS®. These independently operated brands have been serving their respective guests, franchisees and communities for decades. Through its
Restaurant Brands
for Good framework, RBI is improving sustainable outcomes related to its food, the planet, and people and communities.
About POPEYES®
Founded in
New Orleans
in 1972, POPEYES® has more than 50 years of history and culinary tradition.
Popeyes
distinguishes itself with a unique
New Orleans
style menu featuring spicy chicken, chicken tenders, fried shrimp, and other regional items. The chain's passion for its
Louisiana
heritage and flavorful authentic food has allowed
Popeyes
to become one of the world's largest chicken quick service restaurants with over 3,600 restaurants in the
U.S.
and around the world.
About
Cartesian Capital Group, LLC
Cartesian Capital Group, LLC
is a leading global private equity firm with a demonstrated ability to grow companies internationally. With funds comprising more than
$3 billion
in capital commitments, Cartesian's team has helped to build 60 companies operating across 40 different countries. Cartesian has a distinctive practice in supporting the growth of iconic brands across the world, including in
China
, where it is the founder and majority shareholder of
TH International Limited
, the exclusive master franchisee for RBI’s Tim Hortons brand throughout
China
. For more information, please see www.cartesiangroup.com.
Source:
Restaurant Brands International Inc
[Category: Restaurants/ Food Chains]