Popeye's 2014 Annual Report Download - page 19

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1
PART I.
Item 1. BUSINESS
Popeyes Louisiana Kitchen, Inc. (“Popeyes” or “the Company”) 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 a unique “Louisiana” style menu that features
spicy chicken, 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 Louisiana heritage and flavorful authentic food.
As of December 28, 2014, we operated and franchised 2,379 Popeyes restaurants in 48 states, the District of Columbia, three
territories and 26 foreign countries.
As of December 28, 2014, of our 1,805 domestic franchised restaurants, approximately 70% were concentrated in Texas,
California, Florida, Louisiana, New York, Illinois, Georgia, Maryland, New Jersey, Virginia, and Mississippi. Of our 509
international franchised restaurants, approximately 60% were located in South Korea, Turkey, and Canada. Of our 65 company-
operated restaurants, approximately 77% were concentrated in Louisiana, Indiana, and Tennessee.
Financial information concerning our domestic and international operations can be found in Item 7, “Management’s Discussion
and Analysis of Financial Condition and Results of Operations” in this Annual Report on Form 10-K.