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Morning Briefing for pub, restaurant and food wervice operators

Tue 1st Aug 2023 - Popeyes UK strikes £50m partnership with TDR Capital to drive next phase of growth
Popeyes UK strikes £50m partnership with TDR Capital to drive next phase of growth: Popeyes UK, the fast-growing QSR chicken brand, has secured £50m of additional funding from leading private equity firm TDR Capital, to accelerate its successful restaurant opening programme. Popeyes UK has opened 27 locations across the country since its first store in Stratford opened to huge crowds in November 2021. This year, it opened its first drive-thru restaurant in Rotherham, which it said broke multiple sales records for the global brand with a portfolio of over 4,000 locations. Tom Crowley, chief executive at Popeyes UK, said: “This partnership with TDR Capital allows us to continue the fantastic momentum we have built up across the UK and to accelerate our store openings programme. We have a significant and strong pipeline of restaurants with landlords across the country recognising the opportunity of working with us and actively approaching us with good incentives. This investment allows us to fully capitalise on these opportunities. TDR will bring its extensive experience to our business and we look forward to partnering with the team alongside our current owners Ring International Holdings on the next phase of growth for Popeyes UK.” Tom Mitchell, managing partner at TDR Capital, added: “Tom Crowley and his team have done a fantastic job establishing Popeyes’ presence in the UK over the last 18 months. There is significant demand for the brand and its product, which makes this an exciting, long-term investment opportunity for TDR. We’re looking forward to putting our capital to work and supporting the company through its next phase of growth as it opens further locations and creates new jobs across the country.”

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