Burger King better keep it cute, The owner of Burger King and Tim Hortons, Restaurant Brands International, is buying Popeyes Louisiana Kitchen for $79 per share, or $1.8 billion.
According to Business Insider:
“Popeyes is a powerful brand with a rich Louisiana heritage that resonates with guests around the world,” Restaurant Brands International CEO Daniel Schwartz said in a statement. “With this transaction, RBI is adding a brand that has a distinctive position within a compelling segment and strong US and international prospects for growth.”
The offer price represents a 27% premium. The deal will be financed with cash and a loan from JPMorgan and Wells Fargo.