A privately owned sandwich brand that has built a strong base of restaurant units and growth is going public in an acquisition by a well-known restaurant holding company.
The Acquisition: Restaurant Brands International Inc (NYSE: QSR) is acquiring Firehouse Subs, a leading quick-service sandwich restaurant.
The deal values Firehouse Subs at $1 billion.
Restaurant Brands International will now own Tim Hortons, Burger King, Popeyes and Firehouse Subs, all well-known brands covering different portions of the quick-service restaurant industry.
About Firehouse Subs: Brothers and former firefighters Chris Sorensen and Robin Sorensen launched Firehouse Subs in 1994. The brand has grown its unit count over the years, while keeping true to donating a portion of proceeds to the Firehouse Subs Public Safety Foundation.
Firehouse Subs is well-known in the sandwich category and consistently ranks among the market leaders for food quality and value for your money, according to the company.
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