Franchises and Restaurants and Real Estate & Retail

Popeyes plans new restaurants in Indianapolis area

April 4, 2012

AFC Enterprises Inc., the Atlanta-based company that franchises and operates Popeyes restaurants, plans to open seven to nine locations in 2012, mostly in the Indianapolis area, according to plans discussed in a financial statement.

AFC, which trades on the NASDAQ exchange, said this month that its "emphasis will be on aggressively pursuing significant domestic growth opportunities" by adding company-owned restaurants. AFC opened a Popeyes in Indianapolis in the fourth quarter last year and plans to spend $13 million to $15 million this year to open more restaurants as well as improve existing company-owned locations.

The plans were included in fourth-quarter and year-end results released earlier this month. AFC reported $24.2 million in fourth-quarter profit, up from $22.9 million a year earlier.

AFC opened 140 restaurants and closed 75 in 2011, resulting in a net increase of 65 locations in 2011 compared to 39 in 2010. 

The company has 2,035 operating restaurants in the U.S., Guam, Puerto Rico, the Caymen Islands and 25 foreign countries. It is the second-largest chicken fast-food operator behind Louisville-based KFC Corp.

Popeyes list six Indianapolis restaurants on its website and another central Indiana location in Whitestown. In 2010, five local Popeyes franchises operated by local franchisee Will Pace shut down, but some of those locations have since reopened.

 

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