Restaurant Brands International’s $1 Billion Acquisition of Firehouse Subs

Paul, Weiss, Rifkind, Wharton & Garrison represented Restaurant Brands International, while Latham & Watkins and Cassels represented Firehouse Subs in the transaction.

Restaurant Brands International Inc. (RBI) (TSX: QSR) (NYSE: QSR) (TSX: QSP) and Firehouse Restaurant Group Inc. (Firehouse Subs) have reached an agreement for RBI to acquire Firehouse Subs for US$1 billion in an all-cash transaction.

Restaurant Brands International Inc. is one of the world’s largest quick service restaurant companies with approximately $34 billion in annual system-wide sales and over 27,000 restaurants in more than 100 countries. RBI owns three of the world’s most prominent and iconic quick service restaurant brands – TIM HORTONS®, BURGER KING®, and POPEYES®. These independently operated brands have been serving their respective guests, franchisees and communities for over 45 years.

Founded in 1994, Firehouse Subs is an American restaurant chain based in Jacksonville, Florida. Firehouse Subs serves a variety of hot gourmet sub sandwiches.

The Paul, Weiss team included corporate partners Laura Turano and Scott Barshay; intellectual property partner Charles Googe; litigation partner Rick Rule and counsel Steven Herzog; tax partner Jeffrey Samuels and counsel Alyssa Wolpin; executive compensation partner Jean McLoughlin and counsel Lisa Krausz Eisenberg; real estate partner Peter Fisch; and antitrust counsel Yuni Sobel.

Latham & Watkins represented Firehouse Subs in the acquisition with a corporate team led by Century City partner David Zaheer with associates Dylan Towns, Grace Garcea, and Nat Bass. Advice was also provided on compensation and benefits matters by Los Angeles partner Larry Seymour with associate Jordan David; on tax matters by Los Angeles partner Pardis Zomorodi with associate Christine Mainguy; on antitrust matters by Washington, D.C. partner Mandy Reeves and Washington, D.C. counsel Peter Todaro; on intellectual property by Los Angeles partner Ghaith Mahmood with associate Nick Goshgarian; on environmental matters by Los Angeles counsel Aron Potash with legal intern Sam Minter; on real estate matters by San Diego partner Stephanie Fontanes with associate Thomas Ficchi; and on insurance matters by Los Angeles partner Drew Levin with associate Harrison White.

The Cassels’ team included Frank Robinson, Luke Woolford, Holly Elich, Sam Sokoloff, Steven Kennedy, Michael Osborne, Bernice Karn, Andrew Reback, Amanda Long and Janice Yuen. 

Involved fees earner: Holly Elich – Cassels Brock & Blackwell LLP; Bernice Karn – Cassels Brock & Blackwell LLP; Steven Kennedy – Cassels Brock & Blackwell LLP; Michael Osborne – Cassels Brock & Blackwell LLP; Andrew Reback – Cassels Brock & Blackwell LLP; Frank Robinson – Cassels Brock & Blackwell LLP; Sam Sokoloff – Cassels Brock & Blackwell LLP; Luke Woolford – Cassels Brock & Blackwell LLP; Jordan David – Latham & Watkins; Thomas Ficchi – Latham & Watkins; Stephanie Fontanes – Latham & Watkins; Grace Garcea – Latham & Watkins; Nick Goshgarian – Latham & Watkins; Drew Levin – Latham & Watkins; Ghaith Mahmood – Latham & Watkins; Christine Mainguy – Latham & Watkins; Aron Potash – Latham & Watkins; Amanda Reeves – Latham & Watkins; Larry Seymour – Latham & Watkins; Peter Todaro – Latham & Watkins; Dylan Towns – Latham & Watkins; Harrison White – Latham & Watkins; David Zaheer – Latham & Watkins; Pardis Zomorodi – Latham & Watkins; Scott Barshay – Paul Weiss Rifkind Wharton & Garrison; Peter Fisch – Paul Weiss Rifkind Wharton & Garrison; Charles Googe – Paul Weiss Rifkind Wharton & Garrison; Steven Herzog – Paul Weiss Rifkind Wharton & Garrison; Lisa Krausz Eisenberg – Paul Weiss Rifkind Wharton & Garrison; Jean McLoughlin – Paul Weiss Rifkind Wharton & Garrison; Rick Rule – Paul Weiss Rifkind Wharton & Garrison; Jeffrey Samuels – Paul Weiss Rifkind Wharton & Garrison; Yuni Sobel – Paul Weiss Rifkind Wharton & Garrison; Laura Turano – Paul Weiss Rifkind Wharton & Garrison; Alyssa Wolpin – Paul Weiss Rifkind Wharton & Garrison;

Law Firms: Cassels Brock & Blackwell LLP; Latham & Watkins; Paul Weiss Rifkind Wharton & Garrison;

Clients: Firehouse Subs; Restaurant Brands International Inc.;