TDR Capital Secures Major Stake in Popeyes UK for Strategic Expansion
Posted by Emma on 14th Jan 2024
TDR Capital, a notable private equity firm, has recently acquired a majority stake in Popeyes UK, positioning the fast-growing fried chicken brand for a significant expansion phase. Popeyes, a chain with roots in New Orleans since 1972, has substantially impacted the UK, opening 38 locations since its 2021 debut in London. The brand is ambitiously planning to open over 30 new restaurants within the year, nearly doubling its UK presence.
Andy Li, CC0, via Wikimedia Commons
In a strategic move, TDR Capital, known for its investments in Stonegate Pub Company and Pizza Express, elevated its stake in Popeyes UK, following a £50m investment last year. This acquisition shifts the control balance from Ring International Holdings, which now holds a minor stake. Tom Mitchell, managing partner at TDR Capital, expressed his optimism about the brand's trajectory, highlighting Popeyes UK's strong performance and significant growth potential. He emphasised TDR's commitment to bolstering the UK team in alignment with their strategic goals in the food sector.
Popeyes UK has also diversified its services, launching a nationwide wedding catering service last summer. This unique offering includes popular items like chicken sandwiches, biscuits, and hot wings, catering to events with up to 150 guests. Additionally, the chain marked a milestone with the opening of its first drive-through in Rotherham, setting new sales records for the company.
2C2K Photography, CC BY 2.0, via Wikimedia Commons
Tom Crowley, CEO of Popeyes UK, praised TDR Capital's expertise in private equity, expressing excitement about the closer collaboration in rolling out the Popeyes brand across the UK. He also acknowledged the vital role of Ring International Holdings in the initial stages of the business.
With over 3,000 locations in the US and Canada, Popeyes' UK expansion under TDR Capital's stewardship marks a significant phase in its global growth story.
We welcome your insights and opinions on this significant development in the fast-food industry. Please share your thoughts in the comments below.