Burger King parent Restaurant Brands International announced Monday it bought Firehouse Subs for $1 billion.
announced Monday it bought Firehouse Subs for $1 billion.
The sandwich chain is now the fourth brand in Restaurant Brands' portfolio, which also includes Popeyes Louisiana Kitchen and Tim Hortons. The restaurant company has long been rumored to be on the hunt for another fast-food chain, although reviving Tim Hortons and accelerating Popeyes' growth has kept it busy.
Firehouse Subs was founded in 1994 by brothers and former firefighters Chris and Robin Sorensen. The chain has roughly 1,200 locations across the U.S. and expects $1.1 billion in system-wide sales for 2021. For the first 10 months of the year, its same-store sales climbed 20% compared with the same time two years ago.
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