secwatch.observer — SEC 8-K summary
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Issuer:     Restaurant Brands International Inc. (QSR)
CIK:        0001618756
Form:       8-K
Filed at:   2021-11-15T23:59:59+00:00
Accession:  0001618756-21-000062
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1618756/000161875621000062/0001618756-21-000062-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1618756/000161875621000062/qsr-20211115.htm
  HTML page:      https://secwatch.observer/filing/0001618756-21-000062

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