The owner of fast food chains Burger King and Tim Horton’s, Restaurant Brands International Inc., contemplates the acquisition of the Atlanta, Georgia-based Popeye’s Louisiana Kitchen. Two sources, who according to Reuters wish not to be identified to do confidentiality of the agreement, announced on Monday.
The Ontario-based Restaurant Brands, Oakville, plans to spearhead the deal. It has high hopes that it will be able to bring Popeye’s Louisiana-style fried chicken and buttermilk biscuits to more consumers all over the world. Oakville has international reach that would allow great expansion for Popeye’s globally.
However, Restaurant Brands International and Popeye’s haven not reached any sort of agreement yet. There are no hints of a price or even if the deal will continue. The sources say that there is no certainty that the negotiation between the two corporations will lead to anything further.
There is, however, talk that Restaurant Brands International has its eye out for a few more companies, though those companies were not named.
Following the news, shares for Restaurant Brand went up by 5 percent. Popeye’s shares soared up by 12 percent.