Restaurant Brands International and Popeyes Louisiana Kitchen announced that the companies have reached an agreement for RBI to acquire Popeyes for $79.00 per share in cash, or $1.8bn. Founded in New Orleans in 1972, Popeyes has 45 years of history and culinary tradition and is the franchisor and operator of Popeyes restaurants. Today Popeyes is one of the world's largest quick service restaurant chicken concepts with over 2,6k restaurants in the U.S. and 25 other countries around the world and its global footprint will complement RBI's existing portfolio of over 20k restaurants in more than 100 countries and US territories. "Popeyes is a powerful brand with a rich Louisiana heritage that resonates with guests around the world. 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. As Popeyes becomes part of the RBI family we believe we can deliver growth and opportunities for all of our stakeholders including our valued employees and franchisees. We look forward to taking an already very strong brand and accelerating its pace of growth and opening new restaurants in the US and around the world," Daniel Schwartz, RBI Chief Executive Officer.