Popeyes Louisiana Chicken just bought its core recipes from the founder’s family for $US43 million.
Until now, Popeyes had been paying the family of Al Copeland $US3.1 million a year in royalties, reports The Times-Picayune.
Copeland relinquished control of Popeyes to a parent company in 1992, but continued to own the recipes.
While the fast food chain now owns the recipes for the famous chicken and biscuits, it will continue to pay Copeland’s family for spices.
The deal “brings important intellectual property — Popeyes’ core recipes — under brand ownership for the first time,” Popeyes’ CEO Cheryl Bachelder said in a news release obtained by Eater.
Al Copeland founded Popeyes Chicken & Biscuits more than 40 years ago. He died in 2008.
Popeyes is popular for its spicy and regular chicken, seafood, biscuits, and sauces.
With just over 1,600 locations, Popeyes is the the third-largest fried chicken chain, ranking only behind KFC and Chick-fil-A.
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