Execs to Take Popeyes Franchisee Private

Interfoods of America Inc. said Chief Executive Robert Berg and President Steve Wemple agreed to buy the shares of Interfoods they don’t already own to take the franchisee of Popeyes Chicken & Biscuits restaurants private.

Interfoods shareholders will receive notes valued at $1.45 a share, the Miami-based company said. Shares of Interfoods rose 10 cents, or 13%, to 90 cents in over-the-counter trading.