Restaurant Brands International
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Tim Hortons' corporate headquarters in Oakville, Ontario, Canada
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| Public | |
| Traded as | |
| Industry | Restaurants |
| Founded | December 15, 2014 |
| Headquarters | Oakville, Ontario, Canada |
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Number of locations
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20,300+ (September 30, 2016) |
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Areas served
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Global |
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Key people
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Alex Behring (Executive Chairman) Marc Caira (Vice-Chairman) Daniel Schwartz (CEO) |
| Owners |
3G Capital (~71%) Pershing Square (16%) Berkshire Hathaway (3.60%) |
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Number of employees
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450,000+ |
| Subsidiaries |
Burger King Tim Hortons Popeyes |
| Website | www |
Restaurant Brands International is a Canadian multinational fast food company. Formed in 2014 by the $12.5 billion merger between American fast food restaurant chain Burger King and the Canadian coffee shop and restaurant chain Tim Hortons, and expanded by the 2017 purchase of Louisiana based and themed Popeyes Louisiana Kitchen, the company is the third-largest operator of fast food restaurants in the world. The company is based alongside Tim Hortons in Oakville, Ontario, but both chains retain their existing operations and headquarters in Oakville and Miami respectively. The merger focused primarily on expanding the international reach of the Tim Hortons brand, and providing financial efficiencies for both companies.
The company is majority-owned by the Brazilian investment company 3G Capital—the previous majority owner of Burger King—holding a 51% stake. The remainder of the company is publicly traded on the and , and owned by the prior shareholders of Burger King and Tim Hortons. The deal was approved by Tim Hortons' shareholders on December 9, 2014, and the company began trading on December 15, 2014.
On August 24, 2014, U.S. fast food chain Burger King announced that it was in negotiations to merge with the Canadian coffee shop and restaurant chain Tim Hortons; the proposed merger would involve a tax inversion into Canada, with a new holding company majority-owned by Burger King's current majority-owner 3G Capital, and the remaining shares in the company held by current Burger King and Tim Hortons shareholders. A Tim Hortons representative stated that the proposed merger would allow Tim Hortons to leverage Burger King's resources for international growth; the two chains would retain separate operations post-merger. News of the proposal caused Tim Hortons' shares to increase in value by 28 percent.
On August 25, 2014, Burger King officially confirmed its intent to acquire Tim Hortons Inc. in a deal totaling CDN$12.5 billion (US$11.4 billion). 3G Capital would purchase the company at $65.50 per-share, and existing shareholders would receive $65.50 in cash and 0.8025 shares in the new holding company: per-share—all-cash ($88.50) and all-shares (3.0879) options would also be available. Due to its iconic status in Canadian culture, Caira reassured the integrity of Tim Hortons following the purchase, stating that the acquisition would "enable us to move more quickly and efficiently to bring Tim Hortons' iconic Canadian brand to a new global customer base."
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Wikipedia