Our Company

AFC Enterprises, Inc.

Founded in Atlanta in 1992, AFC Enterprises, Inc. develops, operates, and franchises quick-service restaurants ("QSRs" or "restaurants") under the trade name Popeyes®.

Popeyes Profile

Popeyes was founded in New Orleans, Louisiana, in 1972 and is the world's second largest quick-service chicken concept based on the number of units. Within the QSR industry, Popeyes distinguishes itself with a unique "New Orleans" style menu that features spicy chicken, chicken sandwiches, chicken tenders, fried shrimp and other seafood, Red Beans and Rice and other regional items. Popeyes is a highly differentiated QSR brand with a passion for its New Orleans heritage and flavorful authentic food.

Popeyes serves food the world craves and is continuing to expand its global reach. As of December 28, 2008, the Company operated and franchised 1,922 Popeyes restaurants in 44 states, the District of Columbia, Puerto Rico, Guam and 25 foreign countries. Of the 1,527 domestic franchised restaurants, approximately 70% were concentrated in Texas, California, Louisiana, Florida, Illinois, Maryland, New York, Georgia, Virginia and Mississippi. Of the 340 international franchised restaurants, approximately 59% were located in Korea, Indonesia, Canada and Turkey. Of the 55 company-operated restaurants, more than 90% were concentrated in Georgia, Louisiana and Tennessee.

Business Strategy

AFC's business strategy capitalizes on Popeyes strengths as a highly franchised restaurant system. This business model provides a diversified earnings stream, with low capital spending demands. It efficiently produces and retains cash flows which are available for use in enhancing AFC's shareholder value.

The Company's strategic plan focuses on the four pillars below which management believes are proven strategies for growing a high performance restaurant chain.

  • Building the Popeyes Brand - offering franchisees a distinctive brand and menu with clear competitive advantages;
  • Running Great Restaurants - strengthening restaurant operations and improving the Popeyes guest experience by providing service as distnctive as our food;
  • Strengthening Unit Economics - identifying cost savings to improve food, labor and overhead efficiencies in the restaurants; and
  • Aligning People and Resources to Deliver Results - making significant investments in brand building, operational tools and talent.