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    AFC Announces Initial Public Offering

  • Industry News March 3, 2001
    AFC Enterprises, Inc. announced today the commencement of its initial public offering of 9,375,000 shares of its common stock at a purchase price of $17.00 per share. The Company is selling 3,125,000 shares and 6,250,000 shares are being sold by certain selling shareholders. AFC Enterprises' common stock is expected to begin trading March 2, 2001 on the Nasdaq National Market under the symbol AFCE.

    Goldman, Sachs & Co., Credit Suisse First Boston and Deutsche Banc Alex. Brown have acted as managing underwriters for the offering. The underwriters have the option to purchase up to an additional 1,406,250 shares from certain selling shareholders and the Company to cover over-allotments.

    AFC Enterprises operates, develops and franchises quick service restaurants, bakeries and cafes primarily under the trade names Popeyes® Chicken & Biscuits, Church's Chicken(TM), Cinnabon®, Seattle's Best Coffee® and Torrefazione Italia®. As of December 31, 2000, AFC Enterprises operated and franchised 3,618 restaurants, bakeries and cafes in 46 states, the District of Columbia and 27 foreign countries. AFC Enterprises also sells premium specialty coffees through wholesale and retail distribution channels under its Seattle Coffee brands. AFC Enterprises system-wide sales in 2000 totaled approximately $2.4 billion.

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