In an Aug. 10 news release from Restaurant Brands International, Cartesian Capital Group confirmed the development of the Popeyes brand in the People's Republic of China.
Popeyes is a chicken quick-serve restaurant that was started in 1972, in New Orleans, Louisiana, according to RBI. It serves New Orleans-style fried chicken, chicken tenders, fried shrimp and other regional items at its 3,500 restaurants in the U.S. and around the world.
“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," Cartesian Capital Group Managing Partner Peter Yu said, according to RBI. "We are excited to build on our longstanding 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.”
The plan for Cartesian and Popeyes to expand into China isn't set in stone. Although they have started work on a nonbinding term sheet for exclusive development of the chicken restaurant in China, there's due diligence, execution of documents and approvals from both parties to come initially.
The idea isn't entirely new either. The company has in the past revealed agreements to grow into South Korea, France, Romania, the United Kingdom and India, and to expand in Mexico and Saudi Arabia. It also does business in Sri Lanka, Spain, Brazil, Switzerland and the Philippines.