Tim Hortons' parent nears deal to buy Popeyes: Report [Business News Network (BNN) Energy & Resources (Canada)]
POPEYES LOUISIANA KITCHEN (PLKI)
US:NASDAQ Investor Relations:
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Source: Business News Network
Tim Hortons' parent nears deal to buy Popeyes: Report Restaurant Brands International Inc ( QSR.TO ), owner of the Burger King and Tim Hortons fast-food chains, is nearing a deal to acquire Popeyes Louisiana Kitchen Inc, ( PLKI.O ) people familiar with the matter said on Monday. The deal, which will likely value Popeyes at more than US$1.7 billion, is a bet by Oakville, Ontario-based Restaurant Brands that it can use its international reach to introduce Popeyes' Louisiana-style fried chicken and buttermilk biscuits to more diners globally. It also represents a small consolation prize for Restaurant Brands shareholder 3G Capital, which lost a US$143 billion bid this week to merge its biggest holding, food conglomerate Kraft Heinz Co ( KHC.O ), with consumer products firm Unilever Plc. A deal could be announced as early as this week, the people said, asking not to be identified because the negotiations are confidential. Restaurant Brands did not respond immediately to a request for comm
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