M&A Deal Summary

Restaurant Brands International Acquires Firehouse Subs

On November 15, 2021, Restaurant Brands International acquired restaurant Firehouse Subs for 1.0B USD

Acquisition Highlights
  • This is Restaurant Brands International’s 4th transaction in the Restaurants sector.
  • This is Restaurant Brands International’s 2nd largest (disclosed) transaction.
  • This is Restaurant Brands International’s 3rd transaction in the United States.
  • This is Restaurant Brands International’s 2nd transaction in Florida.

M&A Deal Summary
Date 2021-11-15
Target Firehouse Subs
Sector Restaurants
Buyer(s) Restaurant Brands International
Deal Type Add-on Acquisition
Deal Value 1.0B USD
Advisor(s) TD Securities (Financial)
Latham & Watkins (Legal)

Target

Firehouse Subs

Jacksonville, Florida, United States
Firehouse Subs is a restaurant chain with a passion for hearty and flavorful food, heartfelt service, and public safety. Firehouse Subs was founded in 1994 and is based in Jacksonville, Florida.

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Buyer(S) 1

Buyer

Restaurant Brands International

Toronto, Ontario, Canada
Category Company
Founded 1954
Sector Restaurants
Employees5,200
Revenue 7.0B USD (2023)
DESCRIPTION

Restaurant Brands International (RBI) is a fast-food holding company that owns and operates quick-service restaurant brands, including Burger King, Tim Hortons, Popeyes, and Firehouse Subs. The Company leverages its extensive global reach, marketing strategies, and operations to drive growth and profitability for its brands. Restaurant Brands International was originally established in 1954 and is based in Toronto, Ontario.

DEAL STATS #
Overall 4 of 4
Sector (Restaurants) 4 of 4
Type (Add-on Acquisition) 2 of 2
State (Florida) 2 of 2
Country (United States) 3 of 3
Year (2021) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-21 Popeyes Louisiana Kitchen

Atlanta, Georgia, United States

Popeyes Louisiana Kitchen, Inc. is a developer, operator and franchiser of quick-service restaurants ("QSRs" or "restaurants") under the trade name, Popeyes Louisiana Kitchen and Popeyes Chicken & Biscuits.

Buy $1.8B
Mergr

Product

Company

Legal