The deal to buy exclusive development and sub-franchise rights to the brand will close shortly after regulatory approval.
Miami-based fast-food operator Popeyes, one of the largest multinational chains of fried chicken fast-food restaurants, will make a second attempt to enter the Chinese market.
The new partner for Popeyes will be local company TH International, which will help the American fast-food giant open its first establishments in Macau and Mainland China.
The deal to buy exclusive development and sub-franchise rights to the brand will close shortly after regulatory approval. TH International (which also operates the Tim Hortons chain) promises to open up to 1,000 stores by the end of 2023.
“The two brands are a perfect fit, complementing each other with product offerings and having exceptional growth potential,” said Yongchen Lu, CEO of Tims China. “Both brands will benefit from greater scale, a stronger financial model and synergies, including supply chain and new restaurant development.”
Popeyes was developing in China in 2020 in partnership with Tab Foods Investments. The parties envisioned opening 1,500 locations in the country over ten years, but only nine stores were launched. The Popeyes retail chain, as of early 2023, includes more than 3,900 stores.
Plans to launch 1700 restaurants are set to run for ten years.
Popeyes has moved into second place among restaurants specializing in chicken dishes.
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