Restaurant Brands International Inc. (TSX: QSR) (NYSE: QSR) on Monday announced its acquisition of Firehouse Restaurant Group Inc. for $1.0 billion in an all-cash transaction.<\/p>\n\n\n\n
We are excited to welcome the Firehouse Subs team to the RBI family and to continue our ambitious dream of building the world’s most loved restaurant brands” Jos\u00e9 Cil, Chief Executive Officer of RBI said. “Firehouse Subs is a special brand with a talented team, impressive culture and community focus that resonates with guests and closely aligns with our core values at RBI.\u201d\u00a0<\/p>\n\n\n\n
RBI intends to retain the Firehouse management team, with Chief Executive Officer Don Fox, and Chief Financial Officer Vincent Burchiant expected to remain in their roles after the transaction closes. Firehouse Subs has seen its restaurant footprint triple to approximately 1,200 locations and its system-wide sales grow fourfold in the last 11 years to an expected US$1.1 billion in 2021.\u00a0<\/p>\n\n\n\n