Restaurant Brands International, the parent company of Burger King, announced on Monday that it will buy Firehouse Subs for $1 billion in an all-cash deal, adding the American sandwich chain to its portfolio of popular restaurants, which already includes Tim Hortons and Popeyes.

The merger would boost Restaurant Brands' earnings right away, according to the business.Restaurant Brands International Inc. Reports First Quarter 2021 Results

According to Restaurant Brands, Firehouse Subs' system-wide revenues for 2021 will be over $1.1 billion, with October same-store sales in the United States up nearly 20% from pre-pandemic levels two years ago.

Restaurant Brands said it planned to fund the transaction with a mix of cash on hand and debt, with the deal likely to completion in the coming months.