{"id":1816929,"date":"2026-09-09T10:58:03","date_gmt":"2026-09-09T08:58:03","guid":{"rendered":"https:\/\/lexpress-franchise.com\/en-us\/news\/cm-foods-group-acquires-14-popeyes-locations-from-gps-hospitality-after-creditor-takeover\/"},"modified":"2026-09-09T10:35:40","modified_gmt":"2026-09-09T08:35:40","slug":"cm-foods-group-acquires-14-popeyes-locations-from-gps-hospitality-after-creditor-takeover","status":"publish","type":"post","link":"https:\/\/lexpress-franchise.com\/en-us\/news\/cm-foods-group-acquires-14-popeyes-locations-from-gps-hospitality-after-creditor-takeover\/","title":{"rendered":"C&#038;M Foods Group Acquires 14 Popeyes Locations from GPS Hospitality After Creditor Takeover"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>C&amp;M Foods Group has entered the Popeyes Louisiana Kitchen <a href=\"https:\/\/lexpress-franchise.com\/en-us\/articles\/what-is-a-franchise\/\">franchise system<\/a> by acquiring 14 restaurants from GPS Hospitality Ventures, a multi-brand operator that has been selling off assets after its bondholders took control of the company in mid-2026 following a prolonged debt crisis. The deal adds another buyer to a Popeyes system that has seen significant <a href=\"https:\/\/lexpress-franchise.com\/en-us\/articles\/franchise-franchisee-franchisor-roles-responsibilities\/\">franchisee<\/a> turnover this year.<\/strong><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-dots\"\/>\n\n\n\n<p class=\"wp-block-paragraph\">The transaction was reported by Franchise Times on September 8, 2026. <strong>Unbridled Capital<\/strong> served as sell-side adviser to <strong>GPS Hospitality Ventures<\/strong>. Financial terms were not disclosed. C&amp;M Foods Group enters the Popeyes system as a new operator, absorbing a Georgia-based portfolio from one of the more prominent franchisee groups to have fallen into financial distress in the quick-service restaurant sector in recent years.<\/p>\n\n\n        <div class=\"lf-gut-franchise-slider-wrapper\" data-slider-id=\"lf-gut-franchise-slider-6aa1c2b0407b8\">\n            <div class=\"lf-gut-franchise-slider swiper\">\n                <div class=\"swiper-wrapper\">\n                                            <div class=\"swiper-slide lf-gut-franchise-card\">\n                            <div class=\"lf-gut-franchise-image-wrapper\">\n                                <img decoding=\"async\" src=\"https:\/\/lexpress-franchise.com\/wp-content\/uploads\/2026\/06\/hands-binoculars-on-pink-background.webp\" class=\"lf-gut-franchise-image\" alt=\"Popeyes Louisiana Kitchen\">\n                                                                    <div class=\"lf-gut-franchise-logo-center\">\n                                        <img decoding=\"async\" src=\"https:\/\/lexpress-franchise.com\/wp-content\/uploads\/2026\/09\/popeyes-orange-logo.png\" alt=\"Logo\">\n                                    <\/div>\n                                                            <\/div>\n                            <div class=\"lf-gut-franchise-content\">\n                                <div class=\"lf-gut-franchise-title-content\">\n                                    <div>\n                                        <a class=\"lf-gut-franchise-header-link\" href=\"https:\/\/lexpress-franchise.com\/en-us\/franchise\/popeyes-louisiana-kitchen\/\">\n                                            <p class=\"lf-gut-franchise-title\">Popeyes Louisiana Kitchen<\/p>\n                                        <\/a>\n                                        <p class=\"lf-gut-franchise-tag-line\">Love That Chicken!\u00ae<\/p>\n                                    <\/div>\n                                    <ul class=\"lf-gut-franchise-info-list\">\n                                        <li data-field=\"category\">\n                                            <span class=\"lf-gut-icon\"><?xml version=\"1.0\" encoding=\"UTF-8\"?> <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M12.5852 21.9314H4.92807C3.01378 21.9314 2.05664 20.9355 2.05664 18.9438V10.9771C2.05664 8.98542 3.01378 7.98957 4.92807 7.98957M12.5852 21.9314C10.6709 21.9314 9.71378 20.9355 9.71378 18.9438M12.5852 21.9314H18.3281C20.2424 21.9314 21.1995 20.9355 21.1995 18.9438V5.00205C21.1995 3.01037 20.2424 2.01453 18.3281 2.01453H12.5852C10.6709 2.01453 9.71378 3.01037 9.71378 5.00205M4.92807 7.98957H9.71378M4.92807 7.98957V5.99789C4.92807 4.90247 5.7895 4.00621 6.84235 4.00621H9.81905C9.74248 4.30496 9.71378 4.63359 9.71378 5.00205M9.71378 7.98957V18.9438M9.71378 7.98957V5.00205M9.71378 18.9438V5.00205M13.5424 7.98957V12.9688M17.3709 7.98957V12.9688M5.88521 12.9688V16.9521M16.4138 16.9521H14.4995C13.9731 16.9521 13.5424 17.4003 13.5424 17.948V21.9314H17.3709V17.948C17.3709 17.4003 16.9402 16.9521 16.4138 16.9521Z\" stroke=\"#E53B12\" stroke-width=\"1.5\" stroke-miterlimit=\"10\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><\/path><\/svg> <\/span>Restaurant                                        <\/li>\n                                        <li data-field=\"locations\">\n                                            <span class=\"lf-gut-icon\"><?xml version=\"1.0\" encoding=\"UTF-8\"?> <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"19\" height=\"22\" viewBox=\"0 0 19 22\" fill=\"none\"><path d=\"M9.62821 12.2473C11.2775 12.2473 12.6145 10.8563 12.6145 9.14032C12.6145 7.42435 11.2775 6.03329 9.62821 6.03329C7.97893 6.03329 6.64192 7.42435 6.64192 9.14032C6.64192 10.8563 7.97893 12.2473 9.62821 12.2473Z\" stroke=\"#E53B12\" stroke-width=\"1.5\"><\/path><path d=\"M1.60735 7.32788C3.49292 -1.29611 15.7731 -1.28615 17.6491 7.33784C18.7498 12.3967 15.7252 16.6788 13.0739 19.3278C11.1501 21.2597 8.10635 21.2597 6.17292 19.3278C3.53121 16.6788 0.506638 12.3868 1.60735 7.32788Z\" stroke=\"#E53B12\" stroke-width=\"1.5\"><\/path><\/svg> <\/span>                                        <\/li>\n                                        <li data-field=\"contribution\">\n                                            <span class=\"lf-gut-icon\"><?xml version=\"1.0\" encoding=\"UTF-8\"?> <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"24\" height=\"25\" viewBox=\"0 0 24 25\" fill=\"none\"><path d=\"M2.05664 9.19308H21.1995M5.88521 17.1598H7.7995M10.1924 17.1598H14.0209M6.30635 4.21387H16.9402C20.3476 4.21387 21.1995 5.09021 21.1995 8.58561V16.7615C21.1995 20.2569 20.3476 21.1332 16.9498 21.1332H6.30635C2.9085 21.1432 2.05664 20.2668 2.05664 16.7714V8.58561C2.05664 5.09021 2.9085 4.21387 6.30635 4.21387Z\" stroke=\"#E53B12\" stroke-width=\"1.5\" stroke-linecap=\"round\" stroke-linejoin=\"round\"><\/path><\/svg> <\/span>Liquid capital: $                                        <\/li>\n                                                                            <\/ul>\n                                <\/div>\n                                <a class=\"lf-gut-franchise-button\" rel=\"follow\" href=\"https:\/\/lexpress-franchise.com\/en-us\/franchise\/popeyes-louisiana-kitchen\/?demandedocumentation=1&#038;utm_source=media&#038;utm_campaign=cta-slider&#038;utm_medium=https:\/\/lexpress-franchise.com\/en-us\/?p=1816929\">I want more info<\/a>\n                            <\/div>\n                        <\/div>\n                                                        <\/div>\n            <\/div>\n            <div class=\"lf-gut-franchise-slider-nav\">\n                <div class=\"swiper-button-prev\"><\/div>\n                <div class=\"swiper-button-next\"><\/div>\n            <\/div>\n        <\/div>\n        \n\n\n<h2 class=\"wp-block-heading has-primary-color has-text-color has-link-color wp-elements-1\">GPS Hospitality Sells Assets After Bondholders Take Control<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>GPS Hospitality<\/strong>, the Atlanta-based multi-brand franchisee founded in 2012 by former Arby&#8217;s CEO Tom Garrett, missed interest payments on its <strong>$400 million<\/strong> senior secured notes in August 2025 and again in February 2026, operating under an extended forbearance agreement with creditors throughout. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In May 2026, ION Analytics \/ Debtwire reported that GPS was in talks to hand control of the company to its creditors through an out-of-court restructuring, with bondholders expected to equitize a significant portion of their debt. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">By late June 2026, Bloomberg reported that the creditor takeover had been completed. S&amp;P Global Ratings had described GPS as struggling with <strong>&#8220;geographic and brand challenges, along with a high interest burden.&#8221;<\/strong> The company previously sold its <a href=\"https:\/\/lexpress-franchise.com\/en-us\/franchise\/pizza-hut\/\">Pizza Hut<\/a> locations as part of the same deleveraging effort.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-primary-color has-text-color has-link-color wp-elements-2\">A Distressed Portfolio Finds a New Operator<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">GPS Hospitality operates more than <strong>400 Burger King and Popeyes locations<\/strong>. The sale of its Popeyes portfolio through GPS Hospitality Ventures follows the pattern of asset disposals that typically accompany creditor-led restructurings in the franchise industry, where non-core or underperforming brand positions are sold first to generate liquidity and simplify operations. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Unbridled Capital<\/strong>, a Gulf Breeze, Florida-based investment banking firm specializing in franchise M&amp;A, has advised on multiple Popeyes sell-side transactions in recent years. For <strong>C&amp;M Foods Group<\/strong>, the acquisition represents an opportunity to enter an established system at a price and under conditions unlikely to replicate in a standard franchise development pathway.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-primary-color has-text-color has-link-color wp-elements-3\">Popeyes Continues to Absorb Franchisee Turnover<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The C&amp;M Foods acquisition adds to a running list of ownership changes within the Popeyes system in 2026. Earlier in the year, Miami-based <strong>Sailormen Inc.<\/strong>, which had operated <strong>136<\/strong> Popeyes franchises, filed for Chapter 11 bankruptcy and sold its restaurants to five separate buyers, with <strong>39<\/strong> locations closing. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That restructuring, one of the larger <strong>QSR franchise bankruptcies<\/strong> in recent memory, redistributed a significant number of Popeyes units to new operators. The GPS Hospitality Ventures sale follows a similar dynamic: experienced capital entering to absorb locations from operators exiting under financial pressure, with the brand maintaining system continuity in the process.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-primary-color has-text-color has-link-color wp-elements-4\">Popeyes Under Restaurant Brands International<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Popeyes Louisiana Kitchen<\/strong> has operated under <strong>Restaurant Brands International<\/strong> since 2017, when RBI acquired the chain for approximately <strong>$1.8 billion<\/strong>. The brand has pursued aggressive franchisee growth since the acquisition, but unit-level economics have remained under pressure in several markets. The wave of ownership transitions in 2026 reflects ongoing recalibration within the system as RBI works to stabilize its franchisee base and improve per-unit profitability across the Popeyes network.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>This content is provided for informational purposes only and does not constitute legal, tax, financial, or professional advice. Laws and regulations vary by state and individual circumstances and may change over time. Readers should consult a qualified attorney, tax professional, or other licensed professional regarding their specific situation. Nothing herein creates an attorney-client relationship.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>C&amp;M Foods Group has entered the Popeyes Louisiana Kitchen franchise system by acquiring 14 restaurants from GPS Hospitality Ventures, a multi-brand operator that has been selling off assets after its bondholders took control of the company in mid-2026 following a prolonged debt crisis. The deal adds another buyer to a Popeyes system that has seen [&hellip;]<\/p>\n","protected":false},"author":788,"featured_media":1816949,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"C&M Foods Acquires 14 Popeyes from Distressed GPS Hospitality","_seopress_titles_desc":"C&M Foods Group acquired 14 Popeyes restaurants from debt-laden GPS Hospitality Ventures following a 2026 bondholder takeover.","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","_seopress_news_disabled":"","_seopress_video_disabled":"","_seopress_video":[],"_seopress_pro_schemas_manual":[],"_seopress_pro_rich_snippets_disable_all":"","_seopress_pro_rich_snippets_disable":[],"_seopress_pro_schemas":[],"content-type":"","_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"1805572,1562689,1769493,1603810,1794212,1614236","_relevanssi_noindex_reason":"","footnotes":""},"categories":[3594],"tags":[],"type-de-post":[2066],"class_list":["post-1816929","post","type-post","status-publish","format-standard","has-post-thumbnail","category-franchise-networks","type-de-post-articles-actualite"],"acf":[],"permalink_manager":null,"_links":{"self":[{"href":"https:\/\/lexpress-franchise.com\/en-us\/wp-json\/wp\/v2\/posts\/1816929","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lexpress-franchise.com\/en-us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lexpress-franchise.com\/en-us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lexpress-franchise.com\/en-us\/wp-json\/wp\/v2\/users\/788"}],"replies":[{"embeddable":true,"href":"https:\/\/lexpress-franchise.com\/en-us\/wp-json\/wp\/v2\/comments?post=1816929"}],"version-history":[{"count":4,"href":"https:\/\/lexpress-franchise.com\/en-us\/wp-json\/wp\/v2\/posts\/1816929\/revisions"}],"predecessor-version":[{"id":1816956,"href":"https:\/\/lexpress-franchise.com\/en-us\/wp-json\/wp\/v2\/posts\/1816929\/revisions\/1816956"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lexpress-franchise.com\/en-us\/wp-json\/wp\/v2\/media\/1816949"}],"wp:attachment":[{"href":"https:\/\/lexpress-franchise.com\/en-us\/wp-json\/wp\/v2\/media?parent=1816929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lexpress-franchise.com\/en-us\/wp-json\/wp\/v2\/categories?post=1816929"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lexpress-franchise.com\/en-us\/wp-json\/wp\/v2\/tags?post=1816929"},{"taxonomy":"type-de-post","embeddable":true,"href":"https:\/\/lexpress-franchise.com\/en-us\/wp-json\/wp\/v2\/type-de-post?post=1816929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}