02:36 PM EST, 01/09/2025 (MT Newswires) -- Restaurant Brands International (QSR.TO) subsidiary, Firehouse Subs brand, on Thursday said it plans to open more than 500 restaurants in 10 years across Brazil.

The first restaurant is expected to launch in 2025 and will mark Firehouse Subs' debut in South America.

The expansion into Brazil is part of a joint venture supported by Restaurant Brands International in partnership with Iuri Miranda, former CEO and board member of Zamp, master franchisee of Burger King and Popeyes in Brazil. In the long term, RBI expects to partner with local investors to fuel continued growth.

Restaurant Brands shares were last seen down $0.61 to $89.37 on the Toronto Stock Exchange.

Price: 89.32, Change: -0.66, Percent Change: -0.73