Tim Hortons Inc. (USA) (NYSE:THI) And Burger King About To Strike A Deal To Purchase Popeyes Reuters
Tim Hortons Inc. (USA) (NYSE:THI) and Restaurant Brands International Inc will soon be the proud owners of Popeyes Louisiana Kitchen Inc if all goes well. This was outlined by a number of people believed to be quite familiar with the matter on Monday. Top Nasdaq Stocks over the years compete for business opportunities and are wiling to embrace new changes. The new change may certainly be a move to the right direction.
Popeyes is expected to go for about $1.7 billion and this is thought of as a transition that will see global customers enjoy Popeyes’ Louisiana-style fried chicken as well as buttermilk biscuits. The Oakville, Ontario-based Restaurant Brands hopes to take advantage of its international reach to see to it that the new business deal takes root.
Expectations are high that the deal could be made public early this week, but quite little can be said at the moment since confidential matters need to be kept confidential till time is due. Restaurant brands are quite slow in their response for reasons best known to them and on the other hand Popeyes openly showed its unwillingness to give comments.
Beyonce Knowles, a pop singer, is one of Popeyes’ fans and the restaurant is estimated to have started about 45 years ago. It began its operations as a “Chicken on the Run” restaurant. It was located in the New Orleans suburb. Its expansion may come as shocking to a lot of people since at the moment it boasts of about 2,000 restaurants. 1600 of the restaurants serve the inhabitants of America.
A t the moment, the company looks back with pride at the great customer confidence it has been able to build over the years as well as the opportunity to reap the benefits that came in with the refurbishment program.
Popeyes market share is undoubtedly taking up on an upward trend and that is clearly shown by the data service IBISWorld. The formation of Restaurant Brands commenced in 2014 and that took place after 3G Capital-backed Burger King in the acquisition of the Canadian coffee and doughnut chain Tim Hortons Inc for $11 billion. Warren Buffett’s Berkshire Hathaway Inc showed kit participation and support for the deal by committing $3 billion in the deal. Best Nasdaq Stocks usually have a history of important developments resulting from the coming together of major partners and the sure is predictably good for the new organization.