Who Owns Popeyes: Who Really Owns Popeyes?
Introduction
Popeyes Louisiana Kitchen, popularly known as Popeyes, is a fast-food restaurant chain that has gained immense popularity globally. It is famous for its delicious spicy chicken, biscuits, and other southern-inspired dishes. The chain was founded in New Orleans in 1972 by Al Copeland, who grew the business into a national franchise before he was forced to sell it. Today, Popeyes has more than 3,000 locations worldwide and is considered one of the most successful fast-food chains globally.
This article examines the ownership history of Popeyes, focusing on the key players who have owned the company throughout its history. We will explore the controversies surrounding the ownership of Popeyes and how the ownership structure has impacted the chain’s menu, offerings, and operations.
The Early Years of Popeyes
The Founding of Popeyes
In 1972, Al Copeland, a New Orleans entrepreneur, founded Popeyes. Copeland’s idea was to create a fast-food chain that served spicy, New Orleans-style chicken. He started the chain with a single location in the New Orleans suburb of Arabi. Copeland’s chicken quickly became a hit, and he soon expanded his operation by opening additional locations in the New Orleans area.
By 1976, Popeyes had expanded to over 500 locations, making it one of the fastest-growing fast-food chains in the United States. Copeland was able to capitalize on the popularity of Popeyes by taking the company public, which allowed him to raise capital and further expand his operation.
The Acquisition by Al Copeland
In 1983, Al Copeland purchased Church’s Fried Chicken, a rival fast-food chain. The purchase was controversial, as Copeland used a substantial amount of debt to finance the acquisition. This led to financial struggles for Popeyes, as the company’s debt began to mount.
Despite these financial struggles, Copeland continued to grow Popeyes. In the late 1980s, he opened several new locations in Europe and Asia, expanding the chain’s global footprint.
The Ownership Saga Begins
Al Copeland’s Bankruptcy
By the early 1990s, Popeyes was struggling financially. Copeland’s debt had mounted, and the chain was not generating enough revenue to cover its expenses. In 1991, Copeland filed for bankruptcy, and Popeyes was placed into receivership.
The Sale of Popeyes to AFC Enterprises
In 1992, Copeland was forced to sell Popeyes to a company called America’s Favorite Chicken Company (AFC), which later changed its name to AFC Enterprises. AFC purchased Popeyes for $43 million, which included taking on Popeyes’ substantial debt load.
AFC Enterprises: The New Owners of Popeyes
The Purchase of Popeyes
After the purchase of Popeyes, AFC Enterprises began to restructure the chain, closing underperforming locations and focusing on the chain’s core products, including its spicy chicken and biscuits. The restructuring was successful, and by the late 1990s, Popeyes was profitable once again.
The Restructuring of Popeyes
Under AFC’s ownership, Popeyes continued to grow, with new locations opening across the United States and internationally. In 2001, AFC changed its name to Popeyes Louisiana Kitchen, reflecting the company’s focus on the Popeyes brand.
The Emergence of Restaurant Brands International (RBI)
The Merger of Burger King and Tim Hortons
In 2010, Burger King announced its intention to merge with the Canadian coffee and doughnut chain Tim Hortons. The merger was designed to create a global fast-food powerhouse, with Burger King’s strength in the United States and Tim Hortons’ strength in Canada.
The Formation of Restaurant Brands International
In 2014, the merger between Burger King and Tim Hortons was completed, creating a new company called Restaurant Brands International (RBI). RBI became the third-largest fast-food company in the world, with more than 23,000 locations in over 100 countries.
The Acquisition of Popeyes by RBI
In 2017, RBI announced that it was acquiring Popeyes for $1.8 billion, a move that surprised many in the fast-food industry. The acquisition was seen as a strategic move by RBI to expand its global footprint and strengthen its position in the fast-food market.
The Controversies Surrounding Popeyes Ownership
The Origins of Controversy
Popeyes has had a long history of ownership controversies, beginning with the sale of the company by Al Copeland. Copeland’s bankruptcy and the subsequent sale of Popeyes to AFC Enterprises were contentious, with many people questioning the fairness of the sale.
The Claims of Alvin Copeland Jr.
In 2017, Alvin Copeland Jr., the son of Al Copeland, filed a lawsuit against Popeyes and RBI, claiming that he was entitled to a portion of the sale price of Popeyes. Copeland Jr. argued that his father had promised him a share of the company before he died in 2008.
The lawsuit was eventually dismissed, but it highlighted the ongoing controversy surrounding the ownership of Popeyes.
The Impact on Menu Offerings
The ownership structure of Popeyes has also impacted the chain’s menu offerings. Under Al Copeland’s ownership, Popeyes was known for its spicy chicken and New Orleans-style dishes. However, after the sale to AFC Enterprises, the chain began to focus on its core products, which included its spicy chicken and biscuits.
Under RBI’s ownership, Popeyes has continued to expand its menu offerings, adding new items such as chicken tenders and sandwiches. These new menu items have been successful, and many believe that they have helped to drive the chain’s growth.
Conclusion
The ownership history of Popeyes is complex and controversial. From Al Copeland’s bankruptcy to RBI’s acquisition of the chain, there have been many changes in ownership over the years. These changes have impacted the chain’s menu offerings and operations, but Popeyes has remained a popular and successful fast-food chain.
Despite the controversies surrounding its ownership, Popeyes continues to grow and expand, with new locations opening across the United States and around the world. Its spicy chicken and New Orleans-style dishes remain a favorite among fast-food fans, and its recent menu additions have helped to keep the chain fresh and exciting.
FAQs
Who owns Popeyes?
Popeyes is currently owned by Restaurant Brands International.
How many locations does Popeyes have?
Popeyes has over 3,000 locations worldwide.
What is Popeyes known for?
Popeyes is known for its spicy chicken, biscuits, and other southern-inspired dishes.
Who founded Popeyes?
Popeyes was founded by Al Copeland in 1972.
Is there any controversy surrounding Popeyes ownership?
Yes, there have been many controversies surrounding the ownership of Popeyes, including Al Copeland’s bankruptcy and the claims of Alvin Copeland Jr.