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Popeyes just signed a deal with Napaqaro, a French restaurant group, to launch and grow its brand in the country. In particular, the restaurant chain is opening outlets in Monaco and France.
Popeyes, which is owned by Restaurant Brands International Inc., is finally arriving in these regions, and the first store is set to open in 2022. As per Restaurant Business Online, the agreement calls for the launching of hundreds of fast-food outlets across various formats. The financial terms of the deal between Popeyes and Napaqaro were not made public.
It was reported that RBI typically uses this type of deal with master franchisors as a strategy to develop and run its restaurants in markets. This method is said to be effective and has helped the company in generating strong growth in the past years.
The fast-food restaurant company is hoping the tactic will also be able to help Popeyes grow faster in markets where its leading competitor is a brand like Kentucky Fried Chicken or KFC. It was mentioned that the company also used the same strategy when it was developing Burger King while McDonald's was dominating the market.
"We are delighted to announce this landmark agreement for Popeyes and can't wait to introduce our iconic chicken to France, one of the largest QSR markets in the world," Popeyes' parent company, RBI International's president, David Shear, said in a press release. "This is another significant step in Popeyes' European journey and follows successful entries into Spain and most recently the UK."
Shear added that the company's announcement about its new partnership overseas simply shows RBI's ability to team up with leading institutional investors who have backed best-in-class local operators.
Once Popeyes opened in France, it promised to deliver its famous Louisiana-style fried chicken for the French guests. The fast-food chain also assured that it will only be using the freshest ingredients and locally sourced chicken.
As mentioned earlier, the first Popeyes store in France is launching in 2022, and from there, RBI is expected to build more, and hundreds may have already been opened in a few years' time. The company will also be hiring local staff where French hospitality would be put on display.
