AFC Enterprises, Inc. (AFC) develops, operates, and franchises quick-service restaurants (QSRs or restaurants) under the trade names Popeyes Chicken & Biscuits and Popeyes Louisiana Kitchen (collectively Popeyes). Within Popeyes, it manages two business segments: franchise operations and company-operated restaurants. Within the QSR industry, Popeyes distinguishes itself with a Louisiana style menu, which features spicy chicken, chicken sandwiches, chicken tenders, fried shrimp and other seafood, red beans and rice and other regional items. As of December 25, 2011, it operated and franchised 2,035 Popeyes restaurants in 45 states and 25 foreign countries. As of December 25, 2011, the Company of its 1,587 domestic franchised restaurants, approximately 70% were concentrated in Texas, California, Louisiana, Florida, Illinois, Maryland, New York, Georgia, Virginia and Mississippi. In November 2012, the Company acquired 27 restaurants in Minnesota and California.