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Iconic sub sandwich chain plans to open 165 restaurants across Australia in next 10 years TORONTO , Feb. 18, 2025 /PRNewswire/ - Firehouse Subs®, the iconic American sub sandwich restaurant chain renowned for delivering large, flavorful portions and exceptional customer experience, is coming to Australia this year. Retail Food Group (RFG), Australia's largest multi-brand retail food franchisor, intends for Firehouse Subs to become the #1 sandwich choice in the country, with plans to open 165 restaurants in 10 years, and the first restaurant planned to open in Southeast Queensland in late 2025.
Restaurant Brands International said on Tuesday it has bought stakes in Burger King China from its local franchisee for about $158 million, giving it nearly total ownership of the business.
RBI acquires partners' equity stakes and will identify a new local operating partner Transaction shows commitment to drive long-term growth in China TORONTO , Feb. 18, 2025 /PRNewswire/ -- Restaurant Brands International Inc. (NYSE: QSR) (TSX: QSR) (TSX: QSP) ("RBI", "Company") announced today that a subsidiary of RBI has acquired from TFI Asia Holdings BV ("TFI") and Pangaea Two Acquisition Holdings XXIII, Ltd ("Cartesian") all their equity interests in Burger King China for approximately $158M in an all-cash transaction. As a result, RBI now owns nearly 100% of the business and will engage advisors to assist the company to identify a new local partner to inject primary capital into the business and become the controlling shareholder.
Restaurant Brands International reported strong Q4 results and issued robust guidance, reinforcing the sustainability of its long-term growth algorithm. QSR's digital innovation, menu expansion, and operational efficiency are driving solid growth for Tim Hortons Canada and Burger King US. International growth remains strong with significant contributions from Australia, Spain, the UK, Brazil, and new markets like Italy and New Zealand.
RBI delivered strong Q4 results, beating sales and EPS, with same-store sales growing 2.3% year-over-year, thanks to Tim Hortons' dominance in Canada. Tim Hortons continues to excel with 15 consecutive quarters of positive traffic growth, contributing significantly to RBI's overall performance and revenue. Despite challenges, Burger King and Popeyes showed signs of recovery in Q4, with Burger King remodeling efforts boosting future prospects.
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Oppenheimer analyst Brian Bittner reiterated an Outperform rating on Restaurant Brands International Inc QSR with a price forecast of $77.00.
QSR's fourth-quarter top line reflects strong comps performance at the International and Tim Hortons segments.
Burger King's kingdom is getting a makeover following a slight uptick in sales. Restaurant Brands International (RBI), owner of the fast food chain and several other brands, released earnings Wednesday (Feb. 12) showing a 2.5% increase in comparable sales.
Although the revenue and EPS for Restaurant Brands (QSR) give a sense of how its business performed in the quarter ended December 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.