Sign of things to come in the fast-food industry: Restaurant Brands, the company behind Burger King and Tim Hortons, is buying iconic American chain Firehouse Subs for $1 billion.
The global footprint of the Toronto-based company makes it a prime target for U.S. chains looking to expand overseas.
“Firehouse Subs is an ideal complement to our pipeline of growth,” Restaurant Brands CEO Daniel Schwartz said in a statement Thursday. “Firehouse Subs delivers an iconic and accessible U.S. brand that fits well with our legacy of serving Canada’s most authentic quick-service restaurant experience.”
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By Alex Johnson, CNN Money
CNN Business correspondent Aruna Viswanatha contributed to this report.
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