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Restaurant Brands International Inc
Symbol QSR
Shares Issued 312,013,038
Close 2023-06-21 C$ 100.10
Market Cap C$ 31,232,505,104
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Restaurant Brands begins Firehouse Subs expansion

2023-06-22 06:50 ET - News Release

Mr. David Shear reports

RESTAURANT BRANDS INTERNATIONAL ANNOUNCES THE START OF FIREHOUSE SUBS GLOBAL EXPANSION

Restaurant Brands International Inc.'s Firehouse Subs has opened its first restaurant in Switzerland and signed a development agreement to launch in Mexico later this year. These announcements mark the beginning of the brand's expansion plan globally, with the first opening outside North America.

Firehouse Subs was founded by two former firefighting brothers in Jacksonville, Fla., in 1994. Firehouse Subs is all about hearty portions, premium ingredients and delicious recipes, with a commitment to saving lives through raising funds to support local public safety organizations. To date, more than $80-million has been awarded to first responders and public safety organizations in the United States and Canada.

Through its growth journey globally, the brand will benefit from the scale and proven growth capabilities of Restaurant Brands International, parent company of Firehouse Subs, one of the largest quick-service restaurant companies in the world, bringing global scale, new market entry expertise, and a digital strategy and infrastructure.

"Firehouse Subs is our newest brand, and we are excited about its global expansion potential. The entry into Switzerland and development agreement in Mexico are the first steps in our international expansion, and we are working to launch the brand in key growth countries across EMEA [Europe, the Middle East and Africa], APAC [Asia Pacific] and Latin America," said David Shear, president, international, RBI. "Sandwiches represent one of the top food occasions for consumers across markets. With its truly differentiated product offering and strong brand heritage, we are confident that Firehouse Subs can achieve tremendous growth internationally."

The brand conducted research in several high-priority markets to understand guest profiles and provide local relevance. This will be reflected in the menu, image and overall guest experience.

The first Firehouse Subs restaurant in Switzerland will be used as a showcase for future international developments as it unveils a reimagined guest-centric approach featuring self-order kiosks, mobile ordering, a dedicated area for click and collect, table service, and 62 comfortable seats where guests can enjoy the delicious subs the brand is known for.

Each hearty and flavourful sandwich is made to order, layered with cheeses and a variety of premium meats sliced in-house and steamed to perfection with Firehouse Subs' proprietary steaming process, which unlocks flavour and maintains moisture. Guests can look forward to their new favourites -- from the iconic Hook & Ladder to the Firehouse Italian or the Firehouse Beef & Cheddar Brisket -- or try out the new cold sub Roast Beef & Cheddar available only in Switzerland. The recipes have been perfected by Firehouse Subs' chefs.

Philanthropy is key to the brand. Firehouse Subs in Switzerland intends to demonstrate the brand's values by supporting public safety and first responder organizations by raising funds through its new foundation.

The brand is a strong and growing player within the quick-service restaurant (QSR) sandwich category in the United States and has experienced significant growth in the last decade, boasting over 1,200 restaurants across the United States and Canada.

Today's announcement is a big step toward the expansion plan set for Firehouse Subs and the introduction of the iconic brand to more guests around the world to enjoy.

About Firehouse Subs

Firehouse Subs is a restaurant chain with a passion for hearty and flavourful food, heartfelt service, and public safety. Founded in Jacksonville, Fla., in 1994 by two former firefighting brothers. Firehouse Subs is a brand built on decades of fire, hot and hearty subs piled with high-quality meats and cheeses and its commitment to saving lives through raising funds to support local public safety organizations. Firehouse Subs is a subsidiary of Restaurant Brands International, one of the world's largest quick-service restaurant companies with over $35-billion in annual systemwide sales and approximately 30,000 restaurants in more than 100 countries. Restaurant Brands International owns four of the world's most prominent and iconic quick-service restaurant brands -- Burger King, Tim Hortons, Popeyes and Firehouse Subs.

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