British private equity firm TDR Capital has acquired a majority ownership in Popeyes UK, following its initial investment in the company in August 2023.

Popeyes UK has recorded substantial growth and outstanding performance since the original investment was made.

Known for its New Orleans-style fried chicken, the chain currently operates 38 locations across the UK.

It plans to continue its expansion with 30 new sites set to open in 2024.

TDR's funding has enabled the acceleration of the company’s restaurant-opening programme.

Popeyes UK chief executive Tom Crowley stated: “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.

“TDR will bring their extensive experience to our business and we look forward to partnering with them alongside our current owners Ring International Holdings on the next phase of growth for Popeyes UK.”

Founded in New Orleans in 1972, Popeyes is famous for its Louisiana-style fried chicken and the brand’s signature chicken sandwich.

In August 2023, Chinese news agency Xinhua reported that Popeyes planned to open 1,700 new outlets in China up to 2033.

Tim Hortons China, which purchased the exclusive rights to expand and sub-franchise the restaurant brand in Macao and mainland China in March 2023, will run the locations. 

Tim Hortons China CEO Lu Yongchen announced that the chain has upgraded Popeyes’ products and store design. The company is optimistic about the scope of the Chinese catering market.