Burger King parent Restaurant Brands InternationalMonday, Firehouse Subs was purchased for $1 Billion.

Premarket trading was dominated by the news, and shares of the restaurant conglomerate saw a 2% increase in share prices. This year’s stock price has dropped 4%, giving it $27.1 billion in market value.

This sandwich company is the fourth in Restaurant Brands’ portfolio. It also owns Popeyes Louisiana Kitchen, Tim Hortons and Tim Hortons. Although it has been long rumored that the restaurant chain is looking for another fast food outlet, Popeyes has helped to revive Tim Hortons’ growth and has made Popeyes more popular.

Jose Cil (CEO Restaurant Brands) stated that “We see great potential to accelerate U.S. growth at Firehouse Subs using RBI’s international franchisee network, development expertise and digital capabilities.”

Firehouse Subs was established in 1994 by Robin and Chris Sorensen, brothers who were former firefighters. It has approximately 1200 stores across America and is expected to generate $1.1 million in total system sales by 2021. Its same-store sales rose 20% over the previous 10 months compared to two years ago.

Franchisees operate the majority of Firehouse Subs locations, just like other Restaurant Brands chains.

Restaurant Brands indicated that the company would finance the deal using both debt and the funds it had on hand. Firehouse’s Jacksonville headquarters and CEO Don Fox as well as Vincent Burchianti (CFO) will be staying after the transaction is closed.