Brazil's Burger King operator signs franchising deal with Popeyes

From Reuters - March 20, 2018

SAO PAULO (Reuters) - The operator of Burger Kings restaurants in Brazil has signed a 20-year agreement to become the master franchisee of U.S. chain Popeyes Louisiana Chicken, it said in a statement on Tuesday, as the firm deploys fresh cash following a December IPO.

Under the terms of the deal, the value of which was not disclosed, BK Brasil Operacao e Assessoria a Restaurantes SA (BKBR3.SA) has agreed to a number of long-term goals, including the opening of 300 new Popeyes restaurants within 10 years.

Chicken consumption in Brazil has grown more than any other protein in the country, including beef and swine. That fact illustrates the differentiated position that Popeyes offers, with a unique opportunity to attract new customers, BK Brasil said.


Continue reading at Reuters »