Popeyes buys its recipes in $43 million deal - KTRE.com | Lufkin and Nacogdoches, Texas

Popeyes buys its recipes in $43 million deal

Updated:

NEW ORLEANS (AP) - The Atlanta-based company that franchises Popeyes fried chicken restaurants has purchased the recipes for many of the dishes served in those restaurants from Louisiana-based Diversified Foods and Seasonings for $43 million.

Diversified is owned by the estate of the chain's founder, Al Copeland.

Popeyes Louisiana Kitchen Inc. announced the purchase in a news release. The statement said the deal eliminates the $3.1 million annual royalty Popeyes was previously scheduled to pay Diversified until 2029.

Copeland founded what became the Popeyes chain in 1972. He lost the company in a 1990s bankruptcy case after his ill-fated acquisition of the competing Church's chicken chain in 1989.

However, he retained the exclusive contract to supply spices to Popeyes through Diversified Foods and Seasonings.

Copeland died in 2008.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

  • Sign up for emails from FOX 8 Live

    Get news and forecasts from FOX 8 delivered to your inbox by signing up for the lists below.

    * denotes required fields




    Thank you for signing up! You will receive a confirmation email shortly.
Powered by WorldNow
KTRE logo

KTRE

358 TV Road,
Pollok TX 75969

FCC Public File
publicfile@ktre.com
936-853-8639
EEO Report
Closed Captioning

All content © Copyright 2000 - 2014 Worldnow and KTRE. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.