Popeye's 2013 Annual Report Download - page 17

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1
PART I.
Item 1. BUSINESS
In January 2014, we changed our name to Popeyes Louisiana Kitchen, Inc. (“Popeyes” or “the Company”) from
AFC Enterprises, Inc. Popeyes develops, operates, and franchises quick-service restaurants (“QSRs” or “restaurants”)
under the trade names Popeyes®Chicken & Biscuits and Popeyes®Louisiana Kitchen. Within Popeyes, we manage
two business segments: franchise operations and company-operated restaurants. Financial information concerning these
business segments can be found in Note 20 to our Consolidated Financial Statements included in this Form 10-K.
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 aunique “Louisiana”
style menu that features spicy chicken, chicken tenders, fried shrimp and other seafood, red beans and rice and other
regional items. Popeyes is ahighly differentiated QSR brand with apassion for its Louisiana heritage and flavorful
authentic food.
As of December 29, 2013, we operated and franchised 2,225 Popeyes restaurants in 47 states, the District of Columbia,
three territories and 28 foreign countries.
As of December 29, 2013,of our 1,716 domestic franchised restaurants, approximately 71% were concentrated in
Texas, California, Louisiana, Florida, Illinois, Maryland, New York, Georgia, Virginia, New Jersey, and Mississippi.
Of our 456 international franchised restaurants, approximately 59% were located in Korea, Canada, and Turkey. Of
our 53 company-operated restaurants, approximately 83% were concentrated in Louisiana, Tennessee, and Indiana.