Boardroom Alpha
10-K primary document
QSR · Annual Report (Form 10-K) · Filed February 20, 2026

Restaurant Brands International Inc10-K exhibit

ex211qsr_20251231x10k.htm
Document

EXHIBIT 21.1

RESTAURANT BRANDS INTERNATIONAL INC.
List of Subsidiaries

Canada
1011778 B.C. Unlimited Liability Company
1011778 Subco Holdings ULC
1013414 B.C. Unlimited Liability Company
1013421 B.C. Unlimited Liability Company
1014369 B.C. Unlimited Liability Company
1019334 B.C. Unlimited Liability Company
1028539 B.C. Unlimited Liability Company
1029261 B.C. Unlimited Liability Company
1057772 B.C. Unlimited Liability Company
1112090 B.C. Unlimited Liability Company
1112097 B.C. Unlimited Liability Company
1112100 B.C. Unlimited Liability Company
1112104 B.C. Unlimited Liability Company
1112106 B.C. Unlimited Liability Company
1432697 B.C. Unlimited Liability Company
12-2019 Holdings ULC
12KR Holdings ULC
12KRR Holdings ULC
12 LP Subco Holdings ULC
12ZZ Holdings ULC
2097A Holdings ULC
2097AA Holdings ULC
2097B Holdings ULC
2097P Limited Partnership
8997896 Canada Inc.
BC12 Limited Partnership
BC12P Limited Partnership
BC12Sub-Orange Holdings ULC
BK Canada Service ULC
Burger King Canada Holdings Inc.
Firehouse Subs of Canada Ltd.
GPAir Limited
IPCO Limited Partnership
IPCOA Holdings ULC
IPCOAA Holdings ULC
IPCOB Holdings ULC
KR1 Holdings ULC
KR3 Holdings ULC
KR4 Holdings ULC



KR5 Holdings ULC
KR6 Holdings ULC
KR7 Holdings ULC
KR8 Holdings ULC
KR9 Holdings ULC
KR19TDL Holdings ULC
Lax Holdings ULC
Lax Subco Holdings ULC
Lax Subco 2 Holdings Inc.
LDTA Holdings ULC
LDTAA Holdings ULC
LDTB Limited Partnership
LDTC Holdings ULC
Orange Group International, Inc.
P2019 Limited Partnership
PBB Holdings ULC
Pie 1 Limited Partnership
Pie 2 Limited Partnership
Pie 3 Limited Partnership
Pie 4 Limited Partnership
PLK Enterprises of Canada, Inc.
RB Crispy Chicken Holdings ULC
RB Iced Capp Holdings ULC
RB OCS Holdings ULC
RB Timbit Holdings ULC
RBH Midco Holdings ULC
RBH Sub1 Holdings Corporation
RBH Sub3 Holdings Corporation
RBH Subco 4 Holdings ULC
RBHZZ Holdings ULC
RBIZZ Holdings ULC
RBIZZZ Holdings ULC
Restaurant Brands Holdings Corporation
Restaurant Brands International Limited Partnership
TDLRR Subco Holdings ULC
The TDL Group Corp./Groupe TDL Corporation
Tim Hortons Advertising and Promotion Fund (Canada) Inc.
Tim Hortons Canadian IP Holdings Corporation
ZN1 Holdings ULC
ZN3 Holdings ULC
ZN4 Holdings ULC
ZN5 Holdings ULC
ZN6 Holdings ULC
ZN7 Holdings ULC
ZN8 Holdings ULC



ZN9 Holdings ULC
ZN19TDL Holdings ULC
ZNA Holdings ULC
ZNRBI Limited Partnership

Argentina
BK Argentina Servicios, S.A.

Brazil
Burger King do Brasil Assessoria a Restaurantes Ltda.
FHB International S.A.

Cayman Islands
PLKC International Limited

China
Bobipai (Shanghai) Catering Management Co., Ltd.
Bobipai (Shanghai) Brand Management Co., Ltd.
Bobipai (Beijing) Catering Management Co., Ltd.
Bobipai (Nanjing) Catering Management Co., Ltd.
RBI (Shanghai) Information Consulting Co., Ltd.

Germany
Burger King Beteiligungs GmbH

Guernsey
BK APAC IP Guernsey Limited
Restaurant Brands Guernsey Limited

Hong Kong SAR
PLKC HK International Limited

Luxembourg
Burger King (Luxembourg) S.a.r.l.
Burger King (Luxembourg) 2 S.a.r.l.
Burger King (Luxembourg) 241 S.a.r.l.
Burger King (Luxembourg) 242 S.a.r.l.
Burger King (Luxembourg) 2A S.a.r.l.
Burger King (Luxembourg) 3 S.a.r.l.
Burger King (Luxembourg) 5 S.a.r.l.
Burger King (Luxembourg) Holdings S.a.r.l.
Burger King (Luxembourg) Holding Company S.a.r.l.
Burger King (Luxembourg) Finance S.a.r.l.
Burger King (Luxembourg) Investments S.a.r.l.
Firehouse Subs Luxembourg S.a.r.l.
Orange Lux S.a.r.l.
TH Luxembourg S.a.r.l.
Restaurant Brands Lux S.a.r.l.

Mexico
Adminstracion de Comidas Rapidas, SA de CV
BK Servicios de Comida Rapida, S. de R.L. de C.V.



Popeyes Mexico Adfund, S. de R.L. de C.V.
Restaurant Brands International Mexico, S. de R.L. de C.V.

Puerto Rico
Popeyes PR Inc.

Singapore
BK AsiaPac, Pte. Ltd.
Firehouse Subs APAC Pte. Ltd.
PLK APAC Pte. Ltd.
Tim Hortons Asia Pacific Pte. Ltd.

South Africa
Burger King South Africa Holdings (Pty) Ltd.

Switzerland
BK APAC IP GmbH
BK LAC IP GmbH
BK Swiss Finance GmbH
BK Swiss Finance 2 GmbH
BK Swiss Finance 3 GmbH
Burger King (Swiss) 245 GmbH
Burger King Europe GmbH
Firehouse Subs Europe GmbH
PLK Europe GmbH
PLK Swiss Finance GmbH
Restaurant Brands Switzerland GmbH
Tim Hortons Restaurants International GmbH

United Kingdom
BK (UK) Company Limited
BurgerKing Limited
Burger King (United Kingdom) Limited
Huckleberry’s Limited

Uruguay
Jolick Trading, S.A.

U.S.A.
BCP US, LP
BCP-sub, LLC
BK Acquisition, Inc.
BK Whopper Bar, LLC
BKE US Finance LP
BKE US Finance LLC
Blue Finance Holdings 4, LLC
Blue Holdco AKA8, LLC
Burger King Capital Finance, Inc.
Burger King Company LLC
Burger King Interamerica, LLC
Burger King International, LLC



Burger King Investments, Inc.
Capital 94, LLC
Carrols LLC
Carrols Corporation
Carrols Restaurant Group, LLC
Firehouse of America, LLC
FRG, LLC
LLC-QQ, LLC
LLC-QZ, LLC
LLCXOX, LLC
Meal Concepts, LLC
Mirabile Investment Corporation
Nashville Quality, LLC
New CFH, LLC
New Red Finance Inc.
North Pole Acquisition, LLC
NPFH Holdco, LLC
Orange Group, Inc.
Orange Intermediate, LLC
Popeyes Funding LLC
Popeyes Holdco LLC
Popeyes Louisiana Kitchen, Inc.
Popeyes Louisiana Kitchen Investment, LLC
RB Kitchens, LLC
Restaurant Brands International US Services LLC
SBFD, LLC
TH Jamestown LLC
The Tim’s National Advertising Program, Inc.
Tim Donut U.S. Limited, Inc.
Tim Hortons (New England), Inc.
Tim Hortons USA Inc.
WS Coinvest GP, Inc.

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