secwatch.observer — SEC 8-K summary
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Issuer:     Restaurant Brands International Limited Partnership (RSTRF)
CIK:        0001618755
Form:       8-K
Filed at:   2024-05-16T23:59:59+00:00
Accession:  0001618755-24-000035
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 1.01, 2.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

RBI completes $1.0B Carrols acquisition, upsizes term loan to $5.9B
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- Acquisition of Carrols closed May 16, 2024; all-cash $9.55/share, total enterprise value ~$1.0B.
- RBI will invest $500M to reimage over 600 acquired restaurants, then refranchise most over 7 years.
- Term loan B facility increased from $5.2B to $5.9B under same terms; proceeds used to fund acquisition and retire Carrols debt.
- Acquisition adds largest BK franchisee to portfolio as part of Reclaim the Flame plan.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1618755/000161875524000035/0001618755-24-000035-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1618755/000161875524000035/qsr-20240516.htm
  HTML page:      https://secwatch.observer/filing/0001618755-24-000035

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer