Citing Brazil as a strong market for chicken consumption, the parent company of Popeyes is planning to expand into the Latin American country.
Speaking during a quarterly earnings call on April 24, Daniel Schwartz, CEO of Restaurant Brands International (RBI), revealed plans for a franchise agreement to grow the Popeyes brand in Brazil. RBI, which is also the parent company of Burger King and Tim Hortons, acquired Popeyes in 2017.
“We’re very excited to be working with our partners in Brazil who are also our partners responsible for successfully growing our Burger King brand in the country. Through their understanding of local tastes and preferences in the market, as well as many years of experience in the QSR industry, we are confident that we have the right partner to bring Popeyes to this exciting new market,” said Schwartz.
“Brazil is a strong market for chicken consumption, which has grown to be the leading protein in the country and we look forward to introducing guests all over the country to our unique menu offerings in the coming months.”
Popeyes potential in other global markets
Schwartz further stated that the company is also in discussions with several other partners to accelerate the development of the Popeyes brand all around the world.
The CEO of RBI did not directly identify which markets, but did tell shareholders he looked forward to providing updates on the situation at a later date.
North American growth
Schwartz said during the earnings call that the company grew its Popeyes restaurant count by nearly 7 percent on a year-over-year basis, and that was primarily driven by growth in the U.S.
Continued growth in North America, he said, will be further supported by several multi-year development agreements that the company signed in the first quarter of its fiscal year.
RBI is a Canadian company, headquartered in Oakville, Ontario.
