JACKSONVILLE, Fla. — Could Firehouse Subs be trading in sandwiches for burgers?
The Jacksonville, Florida-based sandwich chain announced Monday that it has reached an agreement to be acquired by Restaurant Brands International.
Under the terms of the deal, Restaurant Brands International will acquire Firehouse Subs for $10 billion in cash. The transaction is expected to be finalized in the coming months.
Restaurant Brands International, based in Canada, is the parent company of Burger King and Popeyes.
"At Firehouse Subs we are united in our commitment to and passion for hearty and flavorful food, heartfelt service and public safety," Don Fox, chief executive officer of Firehouse Subs, said in a statement announcing the pending sale. "Joining the RBI family of brands provides an energizing opportunity to assist more communities, not only across America and Canada, but around the globe."
Founded in 1994 by former firefighters and brothers Chris Sorensen and Robin Sorensen in Jacksonville, Firehouse Subs has more than 1,100 locations in 46 states.
Despite the sale, Firehouse Subs will remain based in Jacksonville.