TORONTO – Restaurant Brands International Inc. says it will buy US fast food chain Firehouse Subs for $ 1 billion.
The Toronto-based company behind Tim Hortons, Burger King and Popeyes says the sandwich restaurant is a strong and growing player in the quick-service restaurant industry, with substantial long-term growth potential.
It says Firehouse Subs has tripled its restaurant presence to roughly 1,200 locations since 2010, while its system-wide sales have quadrupled to an estimated $ 1.1 billion expected by 2021.
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Restaurant Brands says Firehouse Subs benefits from a strong family of franchisees who own and operate 97 percent of the brand’s restaurants in 46 US states, Canada and Puerto Rico.
The sandwich chain was founded in Jacksonville, Florida, in 1994 by brothers and former firefighters Chris Sorensen and Robin Sorensen.
Restaurant Brands CEO José Cil says that Firehouse Subs is a special brand with a talented team, impressive culture, and a community approach that resonates with guests.
© 2021 The Canadian Press
Reference-globalnews.ca