Popeyes UK secures £40m in finance to support growth plans

Popeyes UK has revealed that it has secured new finance facilities totalling £43m in order to support the continued rollout of its growth plans across the UK.

The company has agreed the financing with Barclays Corporate Banking alongside its existing support from TDR Capital which last year took a majority stake in the business.

As a result of this, Popeyes plans to open 45 new restaurants, almost doubling its UK footprint.

Six months into the year, the company has already made strides towards its growth ambitions, now operating over 80 restaurants.

In April, Popeyes also launched a strategic partnership with SSP Group to open a pipeline of Popeyes restaurants across UK travel hubs, starting at Birmingham Airport this summer.

Drew Taylor, chief financial officer at Popeyes UK, said: “Barclays are a highly supportive banking partner of Popeyes in the UK. The new finance facilities will enable us to build on our successful growth in the UK to date and execute our expansion strategy over the coming years, with more than 45 openings targeted in 2025 alone.”

Rich Robinson, head of hospitality and leisure at Barclays UK Corporate Banking, added: “We are proud to have worked with Popeyes on this new lending deal, and look forward to helping them realise their exciting plans.

“We are committed to helping businesses across the UK invest for growth, and recently announced a £22bn Business Prosperity Fund to help clients of all sizes achieve their full potential.”

Popeyes entered the UK in 2021 and now employs around 3000 people across eat-in restaurants, drive thru sites, and delivery kitchens.