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Burger King parent buys Firehouse Subs

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Restaurant Brands International, the parent company of Burger King and Popeyes, has purchased Firehouse Subs.

The deal is valued at $1 billion.

"We see tremendous potential to accelerate U.S. and international growth at Firehouse Subs with RBI's development expertise, global franchisee network and digital capabilities," Restaurant Brands CEO Jose Cil said in a statement.

Read more from CNBC.

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