Popeyes spends $43 million to buy its own recipes
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Popeyes Louisiana Kitchen, Inc. has purchased its own recipes from Diversified Foods and Seasonings (DFS), L.L.C for $43 million. The estate of Popeyes founder Al Copeland owns DFS.
"With the cooperation of the Copeland family, this transaction now brings important intellectual property—Popeyes' core recipes—under brand ownership for the first time in our company's history," says Cheryl Bachelder, Chief Executive Officer, in statement. "Popeyes now owns its recipes in perpetuity for use worldwide. ... We thank the Copeland family for reuniting these treasured recipes with the brand Al Copeland, Sr. created."
Bachelder claims that the $3.1 million that would be typically paid as annual royalty to DFS will now benefit Popeyes employees and make for a better future experience with patrons.