Restaurant M&A Activity Continues As Burger King Parent Adds Firehouse Subs In $1 Billion Deal

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Restaurant M&A Activity Continues As Burger King Parent Adds Firehouse Subs In $1 Billion Deal
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Restaurant Business International, parent company of Burger King, Popeyes and Tim Hortons, announced the acquisition of 1,200-unit Firehouse Subs Monday in a $1 billion, all-cash deal.

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Firehouse has been around since 1994 and has steadily grown since through a 97%-franchised system. Since 2010, it has tripled its unit count and is expected to yield about $1.1 billion in systemwide sales this year. It’s also fared relatively well on this side of the pandemic, with comp sales up 20% since 2019.

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