# Restaurant Brands International Inc.

Summary updated: 2026-09-28T11:35:57.469138Z
Canonical: https://finbar.com/research/companies/restaurant-brands-international

## Overview

Restaurant Brands International Inc. (RBI) is a quick-service restaurant company that franchises and operates four brands: Tim Hortons, known for coffee, beverages and food; Burger King, focused on hamburgers; Popeyes, focused on chicken; and Firehouse Subs, focused on sandwiches. More than 95% of its restaurants are franchised. RBI describes its vision as building “the most loved restaurant brands in the world.” [1](https://app.finbar.com/go?id=P110692755)[2](https://www.rbi.com/English/about-us/rbi-vision-and-values/default.aspx)

At the end of 2025, RBI had 33,041 restaurants across more than 120 countries and territories. It reported $9.434 billion in annual revenue and approximately 53,500 employees. [3](https://app.finbar.com/go?id=T13521463)[1](https://app.finbar.com/go?id=P110692755)[4](https://app.finbar.com/go?id=T11437741)[5](https://app.finbar.com/go?id=P91048046)
[1](https://app.finbar.com/go?id=P110692755)[3](https://app.finbar.com/go?id=T13521463)[4](https://app.finbar.com/go?id=T11437741)[5](https://app.finbar.com/go?id=P91048046)[2](https://www.rbi.com/English/about-us/rbi-vision-and-values/default.aspx)

## Products & services

Restaurant Brands International’s menus span four brands. Tim Hortons sells brewed coffee, hot and cold specialty beverages, donuts and Timbits, alongside sandwiches, wraps and flatbread pizzas. Burger King serves flame-grilled hamburgers, including the Whopper, as well as chicken and other specialty sandwiches. Popeyes offers Louisiana-style fried bone-in chicken, tenders, wings and chicken sandwiches, including its Classic Chicken Sandwich. [6](https://app.finbar.com/go?id=P113916214)[7](https://www.timhortons.com/menu)[8](https://app.finbar.com/go?id=P31102180)[9](https://www.bk.com/our-menu)[10](https://app.finbar.com/go?id=P100694175)[11](https://www.popeyes.com/menu/section/wRSrCK1onXPa6RlaoJ3hWM)

Firehouse Subs specializes in hot subs made with steamed meats and cheese, with menu items such as the Hook & Ladder and Firehouse Meatball; it also serves chili, soups and sides. Across the brands, customers can access food through restaurant ordering channels that include drive-thru, digital ordering and delivery, while some brand sites also offer catering. [12](https://app.finbar.com/go?id=P5565878)[13](https://www.firehousesubs.com/menu/)[14](https://app.finbar.com/go?id=P105158432)[15](https://www.firehousesubs.com/)
[6](https://app.finbar.com/go?id=P113916214)[8](https://app.finbar.com/go?id=P31102180)[10](https://app.finbar.com/go?id=P100694175)[12](https://app.finbar.com/go?id=P5565878)[14](https://app.finbar.com/go?id=P105158432)[7](https://www.timhortons.com/menu)[9](https://www.bk.com/our-menu)[11](https://www.popeyes.com/menu/section/wRSrCK1onXPa6RlaoJ3hWM)[13](https://www.firehousesubs.com/menu/)[15](https://www.firehousesubs.com/)

## Geographic presence

Restaurant Brands International had 33,041 restaurants in more than 120 countries and territories at the end of 2025. Of these, 16,638 were in the United States and Canada combined, and 16,403 were elsewhere. Burger King had the broadest geographic reach, with restaurants in 126 countries and territories; Tim Hortons operated in 21, Popeyes in 51, and Firehouse Subs in nine. The company reports these restaurant counts for the U.S. and Canada together rather than separately. [16](https://app.finbar.com/go?id=P85643427)[17](https://app.finbar.com/go?id=P99438125)

The company’s headquarters are in Miami, Florida. Tim Hortons is based in Toronto, Canada; Burger King and Popeyes in Miami; Firehouse Subs in Jacksonville, Florida; and its international business in Zug, Switzerland. [18](https://app.finbar.com/go?id=P116511823)
[16](https://app.finbar.com/go?id=P85643427)[17](https://app.finbar.com/go?id=P99438125)[18](https://app.finbar.com/go?id=P116511823)

## Business segments

Restaurant Brands International reports six segments. Tim Hortons (TH), Burger King (BK), Popeyes (PLK) and Firehouse Subs (FHS) are brand-specific franchisor segments covering the U.S. and Canada. International (INTL) covers all four brands outside those countries. Restaurant Holdings (RH) comprises company-operated restaurant businesses, rather than a single brand or geographic franchise territory. The Tim Hortons segment also includes distribution and manufacturing operations. [19](https://app.finbar.com/go?id=P25374286)[20](https://app.finbar.com/go?id=P111842796)[21](https://app.finbar.com/go?id=P17940961)

Based on revenue from external customers in 2025, TH accounted for approximately 45.0% of consolidated revenue, BK 13.9%, PLK 8.5%, FHS 2.5%, INTL 10.6% and RH 19.5%. These percentages describe RBI’s reported revenue mix, not the mix of sales made by restaurants across its system. [22](https://app.finbar.com/go?id=T12834324)
[19](https://app.finbar.com/go?id=P25374286)[20](https://app.finbar.com/go?id=P111842796)[21](https://app.finbar.com/go?id=P17940961)[22](https://app.finbar.com/go?id=T12834324)[22](https://app.finbar.com/go?id=T12834324)[22](https://app.finbar.com/go?id=T12834324)[22](https://app.finbar.com/go?id=T12834324)[22](https://app.finbar.com/go?id=T12834324)[22](https://app.finbar.com/go?id=T12834324)[22](https://app.finbar.com/go?id=T12834324)

## Company history

Restaurant Brands International (RBI) was formed in December 2014 through the combination of Burger King and Tim Hortons. The two chains had much older roots: Burger King dates to 1954, while the first Tim Hortons shop opened in Canada in 1964. 3G Capital had acquired Burger King in 2010 and became the controlling shareholder of the combined company. [23](https://news.bk.com/blog-posts/burger-king-r-celebrates-70-years-with-a-new-birthday-pie-dessert-and-a-week-full-of-delicious-deals)[24](https://www.timhortons.com/tims-at-home)[25](https://app.finbar.com/go?id=P8414002)[26](https://app.finbar.com/go?id=P191831977)

RBI expanded beyond its original two brands by acquiring Popeyes Louisiana Kitchen in 2017 and Firehouse Subs in 2021. Its chief executive leadership changed from Daniel Schwartz to Jose Cil in 2019, and from Cil to Joshua Kobza in 2023. [27](https://www.rbi.com/English/news/news-details/2017/Restaurant-Brands-International-Inc.-Announces-Successful-Completion-of-its-Tender-Offer-to-Purchase-All-of-the-Outstanding-Shares-of-Popeyes-Louisiana-Kitchen-Inc/default.aspx)[28](https://app.finbar.com/go?id=P3720740)[29](https://www.rbi.com/English/news/news-details/2019/Restaurant-Brands-International-Announces-Exciting-Leadership-Changes-Pre-Releases-Fourth-Quarter-and-Full-Year-Comparable-Sales-and-Net-Restaurant-Growth-Announces-Dividend-Increase-and-First-Investor-Day-Conference/default.aspx)[30](https://www.rbi.com/English/news/news-details/2023/Joshua-Kobza-Appointed-CEO-of-Restaurant-Brands-International/default.aspx)
[25](https://app.finbar.com/go?id=P8414002)[26](https://app.finbar.com/go?id=P191831977)[28](https://app.finbar.com/go?id=P3720740)[23](https://news.bk.com/blog-posts/burger-king-r-celebrates-70-years-with-a-new-birthday-pie-dessert-and-a-week-full-of-delicious-deals)[24](https://www.timhortons.com/tims-at-home)[27](https://www.rbi.com/English/news/news-details/2017/Restaurant-Brands-International-Inc.-Announces-Successful-Completion-of-its-Tender-Offer-to-Purchase-All-of-the-Outstanding-Shares-of-Popeyes-Louisiana-Kitchen-Inc/default.aspx)[29](https://www.rbi.com/English/news/news-details/2019/Restaurant-Brands-International-Announces-Exciting-Leadership-Changes-Pre-Releases-Fourth-Quarter-and-Full-Year-Comparable-Sales-and-Net-Restaurant-Growth-Announces-Dividend-Increase-and-First-Investor-Day-Conference/default.aspx)[30](https://www.rbi.com/English/news/news-details/2023/Joshua-Kobza-Appointed-CEO-of-Restaurant-Brands-International/default.aspx)

## Sources

1. [Restaurant Brands International Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P110692755)
2. [www.rbi.com](https://www.rbi.com/English/about-us/rbi-vision-and-values/default.aspx)
3. [Restaurant Brands International Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T13521463)
4. [Restaurant Brands International Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T11437741)
5. [Restaurant Brands International Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P91048046)
6. [Restaurant Brands International Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P113916214)
7. [www.timhortons.com](https://www.timhortons.com/menu)
8. [Restaurant Brands International Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P31102180)
9. [www.bk.com](https://www.bk.com/our-menu)
10. [Restaurant Brands International Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P100694175)
11. [www.popeyes.com](https://www.popeyes.com/menu/section/wRSrCK1onXPa6RlaoJ3hWM)
12. [Restaurant Brands International Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P5565878)
13. [www.firehousesubs.com](https://www.firehousesubs.com/menu/)
14. [Restaurant Brands International Inc. — Full financial report (2024 Y)](https://app.finbar.com/go?id=P105158432)
15. [www.firehousesubs.com](https://www.firehousesubs.com/)
16. [Restaurant Brands International Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P85643427)
17. [Restaurant Brands International Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P99438125)
18. [Restaurant Brands International Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P116511823)
19. [Restaurant Brands International Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P25374286)
20. [Restaurant Brands International Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P111842796)
21. [Restaurant Brands International Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P17940961)
22. [Restaurant Brands International Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T12834324)
23. [news.bk.com](https://news.bk.com/blog-posts/burger-king-r-celebrates-70-years-with-a-new-birthday-pie-dessert-and-a-week-full-of-delicious-deals)
24. [www.timhortons.com](https://www.timhortons.com/tims-at-home)
25. [Restaurant Brands International Inc. — Full financial report (2021 Y)](https://app.finbar.com/go?id=P8414002)
26. [Restaurant Brands International Inc. — Full financial report (2014 Y)](https://app.finbar.com/go?id=P191831977)
27. [www.rbi.com](https://www.rbi.com/English/news/news-details/2017/Restaurant-Brands-International-Inc.-Announces-Successful-Completion-of-its-Tender-Offer-to-Purchase-All-of-the-Outstanding-Shares-of-Popeyes-Louisiana-Kitchen-Inc/default.aspx)
28. [Restaurant Brands International Inc. — Full financial report (2021 Y)](https://app.finbar.com/go?id=P3720740)
29. [www.rbi.com](https://www.rbi.com/English/news/news-details/2019/Restaurant-Brands-International-Announces-Exciting-Leadership-Changes-Pre-Releases-Fourth-Quarter-and-Full-Year-Comparable-Sales-and-Net-Restaurant-Growth-Announces-Dividend-Increase-and-First-Investor-Day-Conference/default.aspx)
30. [www.rbi.com](https://www.rbi.com/English/news/news-details/2023/Joshua-Kobza-Appointed-CEO-of-Restaurant-Brands-International/default.aspx)

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