The owner of Burger King and Tim Hortons is reportedly nearing a $1.7bn+ deal for US fast food chain Popeyes.
Editor’s Remarks: The offer by Canada-based Restaurant Brands International, created from the merger between the US burger giant and the Canadian doughnut chain, signals its confidence that Popeyes’ Southern fried chicken offerings can be taken globally. The reported deal could value the target at over $1.7bn, and could see Popeyes push up against chicken leaders Chick-fil-A and KFC in the US, too. The deal will also be some consolation for 3G Capital, Restaurant Brands’ key shareholder alongside Warren Buffet’s Berkshire Hathaway, after its decision to back Kraft Heinz in an offer for Unilever resulted in a brutal snub.
What to watch: Restaurant Brands International, Popeyes Louisiana Kitchen, 3G Capital