AFC Enterprises, Inc. announced the completion of its planned $13.8 million acquisition of 27 restaurants in Minnesota and California. As the Company indicated on its third quarter earnings call on November 8, 2012, the acquisition was approved by the bankruptcy court overseeing the bankruptcy of the seller. Twenty-six (26) of the acquired restaurants will be converted into the Popeyes Louisiana Kitchen image and the other restaurant property will be sold. The acquisition accelerates the growth of the Popeyes system and establishes the brand in underpenetrated markets.
AFC Enterprises, Inc. is the franchisor and operator of Popeyes restaurants, the world’s second-largest quick-service chicken concept based on number of units. As of September 30, 2012, Popeyes had 2,060 operating restaurants in the United States, Guam, Puerto Rico, the Cayman Islands and 25 foreign countries. AFC’s primary objective is to deliver sales and profits by offering excellent investment opportunities in its Popeyes brand and providing exceptional franchisee support systems and services to its owners. AFC Enterprises can be found at www.afce.com.
