Popeyes® Announces Agreement to Open More Than 1,500 Restaurants in China Over the Next Ten Years

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Restaurant Brands International Inc.

Jul 23, 2019, 06:00 ET

SHANGHAI, July 23, 2019 /PRNewswire/ - Today, Popeyes Louisiana Kitchen Inc. (Popeyes) announced an exciting new agreement to develop and open more than 1,500 Popeyes restaurants in the People's Republic of China over the next 10 years.

"We're very excited to grow the Popeyes brand in the Chinese market," said Josh Kobza, Chief Operating Officer of Restaurant Brands International (RBI), parent company of Popeyes. "We look forward to bringing our great tasting chicken, biscuits, sides and beautiful new restaurants to our guests in China with our partner, TFI TAB Food Investments (TFI)."

"We are proud to bring this famous brand to China and we look forward to introducing its bold new flavors to our guests," said Korhan Kurdoğlu, Vice Chairman and CEO of TFI. "We plan to build on years of experience of growing successful businesses in China and around the world."

The POPEYES® system operates over 3,100 locations in more than 25 countries worldwide, including the United States and Canada.

Popeyes® is the last of RBI's three iconic brands to enter the Chinese market. In fact, Burger King has operated in China since 2005 and has partnered with TFI since 2012. There are now more than 1,000 Burger King restaurants in China. The commencement of Popeyes' operations in China is subject to a regulatory filing in China.

About POPEYES®
Founded in New Orleans in 1972, POPEYES® has more than 45 years of history and culinary tradition. POPEYES® distinguishes itself with a unique New Orleans style menu featuring fried chicken, chicken tenders, fried shrimp, and other regional items. The chain's passion for its Louisiana heritage and flavorful authentic food has allowed POPEYES® to become one of the world's largest chicken quick service restaurants with over 3,100 restaurants in the U.S. and around the world. To learn more about the POPEYES® brand, please visit the POPEYES® brand website at www.popeyes.com or follow us on Facebook, Twitter and Instagram.

About TFI TAB Food Investments.
TFI TAB Food Investments (TFI) is a leading quick service restaurant operator in Turkey and China, with more than 2,000 restaurants and 50,000 employees. TFI operates a broad range of quick service restaurants across the hamburger, chicken, sandwich, Italian/pizza and Turkish food categories, including the BURGER KING® and POPEYES® brands in Turkey, and the BURGER KING® brand in China. During its 25-year history, TFI has also established a suite of businesses which are complementary to QSR, and which provide food supply chain and distribution management, bread production, advertising, potato production and meat processing, with nearly all raw materials sourced in Turkey. To learn more about TFI, please visit the company's website at www.tabfoods.com.

About Restaurant Brands International Inc.
Restaurant Brands International Inc. ("RBI") is one of the world's largest quick service restaurant companies with ~$32 billion in system-wide sales and ~26,000 restaurants in over 100 countries and U.S. territories. RBI owns three of the world's most prominent and iconic quick service restaurant brands – TIM HORTONS®, BURGER KING®, and POPEYES®. These independently operated brands have been serving their respective guests, franchisees and communities for over 40 years. To learn more about RBI, please visit the company's website at www.rbi.com.

Forward-Looking Statements
This press release includes forward-looking statements, which are often identified by the words "may," "might," "believes," "thinks," "anticipates," "plans," "expects," "intends" or similar expressions and reflect management's expectations regarding future events and operating performance and speak only as of the date hereof. These forward-looking statements include statements about RBI's expectations and belief about the number of Popeyes restaurants that TFI will open throughout China over the next 10 years. The factors that could cause actual results to differ materially from RBI's expectations and beliefs are detailed in filings of RBI with the Securities and Exchange Commission and applicable Canadian securities regulatory authorities, such as its annual and quarterly reports and include the following risks: risks related to RBI's ability to successfully implement its domestic and international growth strategy and risks related to its international operations; risks related to RBI's ability to compete domestically and internationally in an intensely competitive industry; and risks related to RBI's ability to successfully accelerate international development with strategic partners and joint ventures. Other than as required under U.S. federal securities laws or Canadian securities laws, we do not assume a duty to update these forward-looking statements, whether as a result of new information, subsequent events or circumstances, change in expectations or otherwise.

SOURCE Restaurant Brands International Inc.