Jubilant Foodworks signs deal with US- Based restaurant brand Popeyes

Jubilant Foodworks has signed an exclusive Master franchise and Development Agreement with PLK APAC Pte. To develop, create, own and operate hundreds of Popeyes restaurants in India, Bangladesh, Nepal, and Bhutan in the coming years.

Founded in New Orleans in 1972, Popeyes has more than 45 years of culinary history and traditions. Popeyes is distinguished by a unique New Orleans-style menu that includes the popular chicken sandwich, spicy chicken, chicken tenders and fried shrimp, and other regional dishes. The brand has grown into one of the world's largest quick-service chicken restaurants with more than 3,400 restaurants in more than 25 countries around the world.

Since its acquisition by RBI, Popeyes has successfully expanded to Spain, Switzerland, China, Brazil, Sri Lanka, and the Philippines in recent years.

Shyam S.Bhartia, Chairman, and Hari S. Bhartia, Co-Chairman, Jubilant Foodworks said that Popeyes will be an exciting addition to the company's portfolio and is expected to become one of the main growth drivers for us in the coming years.

The announcement was made yesterday, March 24, 2021, during aftermarket hours. Jubilant Foodworks shares fell 2.15% to settle at Rs 2,869.30 yesterday.

Jubilant Foodworks is part of the Jubilant Bhartia Group, which is the largest foodservice company in India. The Domino's Pizza franchise spans a network of 1,314 restaurants in 285 cities (as of December 31, 2020). The company has the exclusive rights to develop and operate the Domino's Pizza brand in India, Sri Lanka, Bangladesh, and Nepal. The company also has exclusive rights to develop and operate Dunkin 'Donuts restaurants in India and has 27 restaurants in 8 cities in India (as of December 31, 2020).

Also Read: Government Files Appeal Against $ 1.2 Billion Arbitration Verdict