Popeyes Louisiana Kitchen

Popeyes Louisiana Kitchen
Subsidiary
Industry Restaurants
Genre Fast food
Founded June 12, 1972 (1972-06-12) (as Chicken on the Run)
Arabi, Louisiana, U.S.
Headquarters Dunwoody, Georgia, U.S.
Number of locations
 2,600 (2016)
Key people
 Al Copeland
Products Fried chicken
Cajun cuisine
Seafood
Vegetables
Biscuits
Revenue Increase US$206 million (2013)[1]
Number of employees
 2,130 (Dec 2015)[1]
Parent Restaurant Brands International (2017–present)
Website www.Popeyes.com

Popeyes Louisiana Kitchen is an American multinational chain of fried chicken fast food restaurants founded in 1972 in New Orleans, Louisiana. Often referred to as Popeyes and sometimes as Popeyes Chicken & Biscuits[2] or Popeyes Famous Fried Chicken & Biscuits,[3] it was acquired by Sandy Springs, Georgia–based AFC Enterprises, originally America's Favorite Chicken Company in 1993. According to a company press release dated June 29, 2007, Popeyes is the second-largest "quick-service chicken restaurant group, measured by number of units",[4] with more than 2,600[5] restaurants in more than 40 states and the District of Columbia, Puerto Rico, and 30 countries worldwide including Bahamas, Bahrain, Canada, China, Costa Rica, Cyprus, Republic of Georgia, Germany, Guyana, Honduras, Hong Kong, Indonesia, Iraq, Jamaica, Jordan, Kuwait, Malaysia, Mexico, Panama, Peru, the Philippines, Qatar, Saudi Arabia, Singapore, South Africa, South Korea, Suriname, Trinidad, Turkey, Vietnam, and United Arab Emirates. About thirty locations are company-owned, the rest franchised.[6] As of 2016, Popeyes has over 2,600 restaurants worldwide according to its website.[7]

On February 21, 2017, Restaurant Brands International announced a deal to buy Popeyes for US$1.8 billion.[8] On March 27, the deal closed with RBI purchasing Popeyes at $79 per share via Orange, Inc, an indirect subsidiary of RBI. [9]

History

Early logo prior to 2008.
Popeyes restaurant in Houston, Texas, United States

Popeyes Mighty Good Fried Chicken was first opened in Arabi, Louisiana, a suburb of New Orleans in St. Bernard Parish, on June 12, 1972, as "Chicken on the Run",[10] owned by Al Copeland to compete with Kentucky Fried Chicken. As the company's history states, they sold "traditional mild fried chicken [but] business was slow, and the chicken team realized they'd have to sell a spicier alternative to their standard chicken recipe if they wanted to impress flavor-seeking New Orleanians. Copeland started franchising his restaurant in 1976, beginning in Baton Rouge, Louisiana and over the next ten years added approximately 500 outlets. B.P. Newman of Laredo, Texas, acquired various franchises in Texas and surrounding states. Two hundred additional locations were added during a period of slower expansion. By 1990, Copeland Enterprises was in default on $391 million in debts, and in April 1991, the company filed for bankruptcy protection. In October 1992, the court approved a plan by a group of Copeland's creditors that resulted in the creation of America's Favorite Chicken Company, Inc. (AFC) to serve as the new parent company for Popeyes and Church's.[11] AFC went public in 2001 with initial public offering (IPO) of $142,818,479.[12] On December 29, 2004, AFC sold Church's to Arcapita, formerly Crescent Capital Investments, retaining Popeyes.

On June 17, 2014, Popeyes announced it had re-acquired full control of its seasonings, recipes, and other proprietary food preparation techniques from Diversified Foods & Seasonings, which remained under the control of Al Copeland and his estate after the creditor sale of Popeyes to AFC. Popeyes had continued to license the seasonings, recipes, and techniques from DF&S for a yearly 'spice royalty', before buying them outright for $43 million. DFS will remain the main supplier for Popeyes until at least 2029.[13]

Name

Alvin C. Copeland claimed he named the stores after the fictional detective Jimmy "Popeye" Doyle in the movie The French Connection[14][15] and not the comic and cartoon character Popeye the Sailor. Copeland would claim facetiously that he was "too poor" to afford an apostrophe.[14] The chain later acquired rights to use Popeye the Sailor for marketing. The company's early brand became deeply tied to the cartoon star with its sponsorship of the Popeye & Pals children's show in New Orleans, and the character appeared on items from packaging to racing boats. In late November 2006, AFC announced the mutual termination of their licensing contract with King Features Syndicate, effectively ending their association with the Popeye characters.[16]

Acquisition by Restaurant Brands International

On February 21, 2017, Restaurant Brands announced a deal to buy Popeyes for US$1.8 billion, subject to regulatory and shareholder approval. The deal officially closed on March 27, 2017.[8]

Products

Popeyes mild chicken

Popeyes serves chicken dishes in mild and spicy flavors and offers sides such as Red Beans and Rice, Cajun fries, mashed potatoes with Cajun-style gravy, and Cajun rice. As well as fried chicken, other entree items include a chicken-and-sausage jambalaya and po' boy sandwiches. Most combo meals come with a side order, drink, and a biscuit. On October 30, 2006, AFC announced that Popeyes planned to introduce a trans fat-free biscuit as well as french fries containing one gram of trans fat by year-end.[17] On November 18, 2011, AFC announced that Popeyes is releasing a Fried Turducken sandwich that will show off the first ever Turducken patty just for the Thanksgiving holiday. On July 29, 2013, AFC in conjunction with their Popeyes brand, released a special entree of fried chicken strips dipped in waffle batter, which was already a proven success in some markets.[18] For a limited time only in 2017, Popeyes offered "Sweet and Crunchy" chicken, fried chicken tenders coated in shortbread cookie breading.[19]

Style and marketing

Coleslaw from Popeyes Chicken & Biscuits restaurant

The restaurants have a distinctive red-and-yellow color scheme. The original and other older locations had a black lava rock exterior with a red shingled roof. Most older locations have covered the rock exterior to conform with the current yellow stucco appearance. During the 1970s and 1980s, the company occasionally licensed characters from the Popeye comic strips to use in their advertising. TV and radio ads often use New Orleans-style music, along with the trademark Love That Chicken jingle[20] sung by New Orleans funk and R&B musician Dr. John.

In 2009, Popeyes introduced "Annie the Chicken Queen", a fictitious, upbeat, African-American Popeyes chef. The character is meant to be "honest, vibrant, youthful and authentic" according to Dick Lynch, Popeyes Chief Marketing Officer. "Everyone has a relative or a good friend who will give it to them straight, and that's what the Annie is all about," Lynch said.[21]

Number of franchises

Popeyes maintains a "Hall of Fame" of its franchise holders. Among the inductees is Morgan W. Walker, Jr. (1928–2008), originally from Alexandria, Louisiana, who held a franchise in the Washington, D.C., area from 1979 to 2007. Some international franchises, such as the ones located in Germany, France, and Japan, are only located on U.S. military installations and are generally not accessible to the local civilian public.

Year United States Canada Outside the United States and Canada Company-owned
2003 1,324 20 320 95
2004 1,382 28 347 67
2005 1,427 28 315 56
2006 1,459 31 306 50
2007 1,507 34 276 61
2008 1,527 39 301 55
2009 1,539 42 325 37
2010 1,533 42 333 37
Source: Entrepreneur.com[22]

See also

References

  1. 1 2 Popeyes Louisiana Kitchen, Inc. Form 10-K, Securities and Exchange Commission, February 26, 2014
  2. ↑ "About Popeyes® - Popeyes Louisiana Kitchen". Retrieved 22 February 2017.
  3. ↑ Engelberg, Adrian (September 24, 1990). "Bob & Gee Tucker: Community Service Important for Married Consulting Team". New Orleans CityBusiness. 11 (6): 23C.
  4. ↑ "Popeyes Chicken & Biscuits Offers 'A Side of Hope,' to America's Hungry Families", press release, popeyes.com
  5. ↑ http://www.caribbeanbusinesspr.com/prnt_ed/popeyes-continues-steady-international-expansion-11813.html
  6. ↑ Hoovers/Dun & Bradstreet: Popeyes Chicken & Biscuits
  7. ↑ "About Popeyes® - Popeyes Louisiana Kitchen". Retrieved 22 February 2017.
  8. 1 2 Silva Laughlin, Luaren (February 21, 2017). "Restaurant Brands Takes a Bite Out of Popeyes". The New York Times. New York City. Retrieved February 22, 2017.
  9. ↑ http://www.prnewswire.com/news-releases/restaurant-brands-international-inc-announces-successful-completion-of-its-tender-offer-to-purchase-all-of-the-outstanding-shares-of-popeyes-louisiana-kitchen-inc-617157513.html. Missing or empty |title= (help)
  10. ↑ Popeyes Story
  11. ↑ "Answers - The Most Trusted Place for Answering Life's Questions". Retrieved 22 February 2017.
  12. ↑
  13. ↑ Wong, Vanessa Wong (17 June 2014). "Popeyes Buys Its Recipes for $43 Million. Wait, Popeyes Didn't Own Its Recipes?". Bloomberg Businessweek. Retrieved 18 June 2014.
  14. 1 2 Martin, Douglas. "Al Copeland, a Restaurateur Known for Spice and Speed, Dies at 64". The New York Times, March 25, 2008
  15. ↑ Hoffman, Ken, "Chicken Cordon Bleu est TACO tres magnifique", King Features Syndicate, published in The Gazette of Cedar Rapids-Iowa City, Iowa, June 19, 1998, p. 2, ("chain was named for Popeye Doyle, the cop in The French Connection") Archived online at newsbank.com. Retrieved March 27, 2008
  16. ↑ "Popeyes ditches ex-spinach-eating pitchman", The Atlanta Journal-Constitution, November 26, 2013.
  17. ↑ Dow Jones newsire (Oct. 31, 2006): "AFC's Popeyes Chicken Plans Low Trans-Fat French Fries", by Richard Gibson
  18. ↑ "Popeyes Debuts Chicken Waffle Tenders, World Wonders Why No One Else Thought Of That Already". The Huffington Post. July 24, 2013. Retrieved September 6, 2013.
  19. ↑ Staff, AOL. "Popeyes is now frying chicken in cookie batter -- here's the flavor verdict". AOL.com. Retrieved 2017-06-22.
  20. ↑ "Popeyes Chicken - Popeyes Chicken". Retrieved 22 February 2017.
  21. ↑ "Press Release: Popeyes keeps it real with new advertising campaign". Popeyes Louisiana Kitchen. March 30, 2009. Archived from the original on May 27, 2009. Retrieved May 27, 2009.
  22. ↑ "Popeyes Louisiana Kitchen Franchise Information". Retrieved 22 February 2017.
Wikimedia Commons has media related to Popeyes Chicken & Biscuits restaurants.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.