Who is the Owner of Popeyes Chicken? The Full Story Behind the Global Fried Chicken Empire

Popeyes Louisiana Kitchen has become one of the biggest players in the fried chicken fast food game. Its spicy, New Orleans-style chicken, signature sides, and recent smash-hit chicken sandwich have made it a favorite across the United States and increasingly around the world. But who owns this global chicken empire?

The story of Popeyes’ ownership is an interesting one spanning family business origins, bankruptcy, acquisitions, mergers, and public listings Here’s a deep dive into the past, present, and future of who controls the Popeyes fried chicken brand

A Humble Beginning

Popeyes traces its roots back to 1972 in a suburb of New Orleans, Louisiana It was founded by businessman Alvin C. Copeland Sr as a small restaurant called Chicken on the Run. After initial struggles, Copeland rebranded it as Popeyes Mighty Good Chicken after just a few months.

The new Popeyes concept focused on spicy, New Orleans-style fried chicken, distinguished from the more mainstream Southern-style chicken of competitors like KFC. Through the 1970s and early 1980s, Popeyes rapidly expanded through franchising throughout the United States, eventually reaching 500 locations by 1985.

Popeyes rode America’s rising appetite for fast food through the 1980s and continued growing. However, trouble was on the horizon.

Financial Troubles Lead to Bankruptcy

In the late 1980s, founder Alvin Copeland Sr. took on heavy debt to finance the acquisition of competitor Church’s Chicken. By 1991, the debt load led Popeyes’ parent company to file for Chapter 11 bankruptcy protection.

After restructuring and eliminating some of its debt burden, the company emerged from bankruptcy in 1993 under the new corporate name America’s Favorite Chicken Company (AFC).

AFC Laying the Groundwork for the Future

Under AFC, Popeyes slowly recovered and continued expanding its footprint. In 2001, AFC became a public company traded on the NASDAQ stock exchange under the ticker AFCE.

Popeyes also started pushing internationally with master franchise agreements in places like South Korea, Turkey, Indonesia, and China.

In 2008, the chain updated its brand name to Popeyes Louisiana Kitchen to emphasize its authentic roots and heritage.

Acquisition by Restaurant Brands International

In 2017, Popeyes reached a pivotal moment when it was acquired by Restaurant Brands International (QSR) for $1.8 billion.

RBI is a Canadian-based, multinational fast food holding company that also owns Burger King, Tim Hortons, and Firehouse Subs.

This move gave Popeyes access to an international network of restaurants and franchising infrastructure to continue accelerating expansion, especially in Europe and Asia.

Since the acquisition, Popeyes has rapidly grown its global footprint under RBI’s ownership, recently reaching over 3,700 locations across nearly 40 countries by 2025.

The Power Behind RBI

While RBI directly owns Popeyes today, RBI itself has a major shareholder in the investment firm 3G Capital. The Brazilian private equity company exerts substantial influence over RBI and its portfolio of brands including Popeyes.

3G Capital partnered with Warren Buffet’s Berkshire Hathaway in the merger that originally created RBI and still holds about one-third ownership in the company.

So while public shareholders and institutional investors like Fidelity and BlackRock hold stakes in RBI, 3G Capital is the real power behind the throne guiding its strategic direction.

Strong Performance Under RBI

Popeyes has thrived under the guidance and resources of its new corporate parent RBI. Some of Popeyes’ key achievements include:

• Aggressively expanding to over 40 international markets and accelerating domestic growth.

• Rolling out a hugely viral and successful chicken sandwich that boosted sales and brand awareness in 2019.

• Leveraging RBI’s supply chain, purchasing scale, and cost-saving strategies to boost franchisee profit margins.

• Investing in modernizing locations and new restaurant openings to provide an updated brand image.

• Launching delivery services and digital ordering to align with changing consumer preferences.

While staying true to its heritage, Popeyes has managed to modernize and extend its reach as part of the RBI family of brands.

What Does the Future Hold?

As Popeyes continues expanding around the world, opening new flagships and entering new markets like Romania and India, expect its growth journey to continue under RBI’s stewardship.

With rising global middle-class populations and increasing appetites for American fast food abroad, Popeyes still seems to have ample room for expansion before it reaches KFC levels of worldwide saturation.

Backed by RBI’s franchising infrastructure and powered by 3G Capital’s financial muscle, Popeyes appears well-positioned to keep riding the wave of fried chicken’s popularity to further global domination.

The company will likely continue innovating its menu offerings, finding the right balance between core classics like its signature Bonafide and more limited-time buzzworthy items like the smoky Voodoo chicken.

Popeyes seems primed to continue its impressive expansion as it brings its authentic flavor of Louisiana to new markets and develops its foothold in existing ones. With strong corporate leadership and ownership, this chicken empire has even more room to spread its wings.

So next time you bite into that deliciously spicy Popeyes chicken, know that behind this global fast food powerhouse stand major corporate and financial players who have shaped its growth trajectory over the decades. The Popeyes story is one of humble, family-founded origins meeting corporate mergers and multinational expansion.

Popeyes Louisiana Kitchen is currently owned by Restaurant Brands International (RBI).