Popeyes brand and Cartesian Capital Group, LLC announced they have entered into a non-binding term sheet for the exclusive development of the Popeyes brand across the People’s Republic of China in the coming years. The consummation of the transaction is subject to execution of definitive documents, customary due diligence and approvals of the parties.
“We are proud to grow the Popeyes brand in China and to bring its famous Chicken Sandwich and iconic products to guests in this exceptionally dynamic market,” says Peter Yu, Managing Partner of Cartesian. “We are excited to build on our long-standing and successful relationship with RBI, spanning over a decade and most recently including our rapid development of more than 450 Tim Hortons cafes across China.” Cartesian is committed to offering a seamless in-store experience to serve guests in the iconic hospitable way that is characteristic of the Popeyes brand.
Founded in New Orleans in 1972, Popeyes has more than 50 years of history and culinary tradition. Popeyes distinguishes itself with a unique New Orleans style menu featuring the iconic chicken sandwich, spicy chicken, chicken tenders, fried shrimp, and other regional items. Popeyes uses proprietary seasonings and techniques developed by an in-house culinary team of chefs that makes its fried chicken a point of reference for Michelin Chefs and celebrities.
The brand’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 3,850 restaurants in over 30 countries around the world.
Today’s announcement contributes to the brand’s growth strategy to increase its presence in key markets across the world. Since 2021, Popeyes has announced agreements to enter South Korea, France, Romania, the United Kingdom and India, and to expand in Mexico and Saudi Arabia. Other international expansions over the past years include Spain, Philippines, Brazil, Switzerland, and Sri Lanka.