---
schema_version: "secwatch.filing_event.v1"
accession: "0001618756-21-000062"
form_type: "8-K"
ticker: "QSR"
cik: "0001618756"
company_name: "Restaurant Brands International Inc."
filed_at: "2021-11-15T23:59:59+00:00"
generated_at: "2026-06-28T08:24:41.143743+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# RBI acquires Firehouse Subs for $1.0B all-cash; deal expected to close in coming months

## Summary
- Deal valued at $1.0B; RBI plans to fund via cash on hand and debt.
- Firehouse Subs 2021E system-wide sales ~$1.1B; Adjusted EBITDA ~$50M.
- ~1,200 restaurants across 46 U.S. states, Canada, Puerto Rico; 97% franchised.
- U.S. comparable sales +20% YTD Oct 2021 vs 2019; 3.5-year avg payback period.
- Management to remain; deal immediately accretive to RBI diluted EPS.

## SEC filing metadata
- accession: 0001618756-21-000062
- form_type: 8-K
- ticker: QSR
- cik: 0001618756
- company_name: Restaurant Brands International Inc.
- filed_at: 2021-11-15T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1618756/000161875621000062/0001618756-21-000062-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1618756/000161875621000062/qsr-20211115.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001618756-21-000062
- JSON: https://secwatch.observer/filing/0001618756-21-000062.json
- Plain text: https://secwatch.observer/filing/0001618756-21-000062.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.