Kirkland & Ellis advised TH International Limited (“Tims China”; Nasdaq: THCH) on its acquisition of PLKC International (“Popeyes China”) in an all share transaction to become the exclusive operator and developer of the Popeyes® brand in mainland China and Macau. Popeyes®’ 50-year history, distinctive menu, and passion for flavorful authentic food has made it one of the world’s leading chicken quick-service restaurant brands with over 4,100 locations globally. The transaction closed on March 30, 2023.
Tims China is the parent company of the exclusive master franchisees of Tim Hortons coffee shops in mainland China, Hong Kong and Macau, and Popeyes restaurants in mainland China and Macau. It is founded by global private equity firm Cartesian Capital Group and Tim Hortons Restaurants International, a subsidiary of Restaurant Brands International (TSX: QSR; NYSE: QSR).
The Kirkland team was led by transactional partners Jesse Sheley, Joseph Raymond Casey, Min Lu and Steve Lin, with assistance of transactional partner Armand Della Monica and associates Jiayi Wang and Olivia Wang.