Popeyes UK secures £50m funding package to drive next phase of growth

By James McAllister

- Last updated on GMT

Popeyes UK secures £50m partnership with TDR Capital to drive next phase of growth

Related tags Popeyes Fried chicken Multi-site QSR US chain Investment expansion Fast food R200

Popeyes UK has secured £50m of additional funding from private equity firm TDR Capital to accelerate its restaurant opening programme.

Tom Crowley, CEO at Popeyes UK, says the partnership will allow the group to build on its current momentum​, which has seen it open 27 locations across the country since first launching in Stratford, London, some 18 months ago. 

"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," says Crowley. 

"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."

Popeyes has said previously that it is aiming to open 350 sites across the UK within 10 years. 

The group recently opened its first drive-thru restaurant on these shores in Rotherham, which it claims 'broke multiple sales records for the global brand'. 

Further roadside sites are set to launch later this year, with Crowley previously telling Restaurant​ ​that the group is on track to open several drive-thru restaurants in 2023.

"Tom Crowley and his team have done a fantastic job establishing Popeyes’ presence in the UK over the last 18 months," says Tom Mitchell, managing partner at TDR Capital.

"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."

Last week, Popeyes UK also announced the launch of a wedding catering service​ offering food packages for up to 150 guests that include chicken sandwiches, hot wings and Southern biscuits.

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