Popeyes Louisiana Kitchen, Inc. acquired by Restaurant Brands International Inc.
Restaurant Brands International Inc. acquired Popeyes Louisiana Kitchen, Inc., a US quick service restaurants; franchisor and operator brand, on Feb 21, 2017.
Transaction summary
- Target
- Popeyes Louisiana Kitchen, Inc.
- Acquirer
- Restaurant Brands International Inc.
- Seller
- -
- Announced
- 2017-02-21
- Geography
- United States
- Type
- Acquisition
- Deal type
- Control
- Stake acquired
- 100%
- First added
- 2026-10-04
- Latest update
- 2026-10-04
Value and multiples
100% enterprise value
USD 1.8B
100% enterprise value | USD
Basis: Public source
Reported price is assumed to be 100% EV unless stated otherwise. Partial-stake estimates are qualified in the basis notes.
EV / revenue
6.69x
Period: Fiscal Year Ended 2016 12 25 2016
Basis: Derived from source data
EV / EBITDA
18.9x
EBITDA: normalised / adjusted
Basis: Derived from source data
Basis
- USD 1.8bn enterprise value is treated as publicly disclosed or derived directly from public source data.
- Valuation covers 100% of the target; the amount invested or paid for a stake is separate.
- Implied EV / revenue is 6.69x, calculated from USD 1.8bn value and USD 269m revenue.
- Revenue and multiple inputs are not fully disclosed in public transaction materials reviewed; treat the multiple as an estimate.
- The announced $1.8 billion transaction value is treated as whole-company enterprise value under FCR-211; no debt-and-cash bridge is supplied. Popeyes fiscal year ended December 25, 2016 reported revenue of $268.9 million and adjusted EBITDA of $95.5 million. Approximate multiples of 6.69x revenue and 18.85x adjusted EBITDA are calculated using the rounded announced value and those fiscal-year metrics; they are not separately reported transaction multiples. Approximate multiples calculated from announced rounded transaction value and reported fiscal 2016 metrics. RBI-reported historical Popeyes fiscal-year figures; Adjusted EBITDA is the issuer-defined non-GAAP measure.
Source summary
Restaurant Brands International Inc. Agrees to Acquire Popeyes Louisiana Kitchen
ConfirmedRBI to acquire Popeyes for $79.00 per share in cash, or $1.8 billion.
Open sourcePopeyes Louisiana Kitchen Form 8-K Reporting Completion of Acquisition
Confirmedthereby becoming an indirect, wholly-owned subsidiary of Parent.
Open sourceRestaurant Brands International Inc. Reports Third Quarter 2017 Results
ConfirmedReconciliation of Adjusted EBITDA to Net Income (Unaudited) Historical Popeyes Adjusted EBITDA
Open sourceContinue your research
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