Firehouse Subs being bought by Canadian fast-food company

Associated Press

JACKSONVILLE, Fla. (AP) — A Florida-based company that owns the Firehouse Subs chain is in contract to be purchased by a Canadian company that owns Burger King, Popeye’s and Tim Horton’s fast-food restaurants. Restaurant Brands International said Monday that it had reached an agreement to acquire Jacksonville-based Firehouse Restaurant Group Inc. in a $1 billion all-cash transaction. Restaurant Brands International plans to fund the acquisition through a combination of cash on hand and debt. Firehouse Subs will remain based in Jacksonville. CEO Don Fox and CFO Vincent Burchianti will stay in their jobs. Firehouse Subs was founded in Jacksonville in 1994 by brothers and former firefighters Chris Sorensen and Robin Sorensen