AFC Enterprises, Inc. (NASDAQ: AFCE), the franchisor and operator of Popeyes® restaurants, today announced that it has entered into a new agreement with the King Features Syndicate Division of Hearst Holdings, Inc., licensor of the Popeye ® the Sailorman and associated cartoon characters. As part of the new agreement, the parties agreed to dismiss the pending declaratory judgment action related to their previous license agreement.
The new agreement confirms the expiration of the previous license agreement and the parties agree to cooperate with each other to protect their respective intellectual property rights on a world-wide basis.
“We are pleased to have reached this new agreement with King Features and we appreciate King Features’ support of the growth of Popeyes ® restaurants around the world,” said Cheryl Bachelder, CEO of AFC Enterprises, Inc.
“For over 35 years AFC and King Features have had a mutually beneficial licensing agreement that has led to immense growth of our businesses. I am happy that Popeye the character has been so instrumental to Popeyes the restaurant chain, and we wish them continued success in the future,” said T.R. Shepard, President of King Features Syndicate.About AFC Enterprises, Inc. AFC Enterprises, Inc. is the franchisor and operator of Popeyes® restaurants, the world's second-largest quick-service chicken concept based on number of units. As of September 30, 2012, Popeyes had 2,060 operating restaurants in the United States, Guam, Puerto Rico, the Cayman Islands and 25 foreign countries. For more information, visit the Popeyes Louisiana Kitchen Web site at www.popeyes.com. AFC’s primary objective is to deliver superior sales and profits by offering excellent investment opportunities in its Popeyes ® brand and providing exceptional franchisee support systems and services to its owners. AFC Enterprises can be found at www.afce.com.