Gordon Haskett’s head of event-driven research Don Bilson noted that since making the Tim Horton’s deal ten years ago – in which 3G persuaded its friend, Warren Buffett, to step forward with a $3B preferred investment as part of a corporate inversion – Restaurant Brands (QSR) has added chicken by buying Popeyes and subs with a deal for Firehouse to its portfolio, but it has not yet added pizza. That “is one reason our interest was piqued mildly when we saw a 3G jet make a trip to Louisville on August 15. That city, of course, is the home of Papa John’s,” the firm said earlier in a note to investors.
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