British Columbia Sun

Tim Hortons parent Restaurant Brands purchasing Firehouse Subs multiple for $1B

Key takeaways: 

  • Florida based multiple has sites over the US, Canada and Puerto Rico. 
  • Jose Cil states the submultiple “resonates with visitors and closely aligns with our core merits at RBI.”

Restaurants Brands to purchase Firehouse Subs firm for a worth of $1B: 

Restaurants Brands International Inc. is purchasing sandwiches multiple Firehouse Subs for US$1 billion, an agreement the firm states amounts to its existing portfolio of fast-food firms. 

The firm behind Tim Hortons, Burger King and Popeyes stated Monday the US-based restaurant, which includes hot especially subs and salads on its menu, is a powerful and growing player in the rapid service restaurant industry with considerable long-term widening potential. 

Firehouse subs have tripled its restaurant footmarks to about 1,200 sites since 2010 while its system-growth sales have quadrupled to an approximated US$1.1 billion anticipated for 2021, according to Restaurant Brands. 

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The firm said Firehouse Subs benefits from a “powerful family of franchisees” who own and function 97 per cent of the brand’s restaurant over 47 US states, Canada and Puerto Rico. 

“We see enormous potential to accelerate U.S. and international growth at Firehouse Subs with RBI’s growth expertise, worldwide franchisee network and digital capacities.”¬†Source – cbc.ca

“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,” Restaurant Brands CEO Jose Cil said in a statement. Source – cbc.ca

Florida-based firm: 

The Sandwich company was established in Jacksonville, Fla, in 1994 by brothers and past firefighters Chris Sorensen and Robin Sorensen. 

In 2005, the firm founded the non-profit Firehouse Subs Public Safety Foundation in the wake of Hurricane Katrina. The corporation is committed to improving the capacities of first responders through financing, resources and support.  

“At Firehouse Subs we are united in our dedication to and passion for hearty and flavorful food, heartfelt service and public safety,” Don Fox, CEO of Firehouse Subs, explained in a statement. Source – cbc.ca

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