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AFC Enterprises Inc. announced the completion of its planned $13.8 million acquisition of 27 restaurants in Minnesota and California.
As the company indicated on its third-quarter earnings call on Nov. 8, the acquisition was approved by the bankruptcy court overseeing the bankruptcy of the seller.
Twenty-six of the acquired restaurants will be converted into the Popeyes Louisiana Kitchen image, and the other restaurant property will be sold. The acquisition accelerates the growth of the Popeyes' system and establishes the brand in underpenetrated markets.
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