TIM HORTONS AND BURGER KING MERGE WORLD’S THIRD LARGEST QUICK SERVICE RESTAURANT COMPANY
New Global Company Will Have Approximately $23 billion in System Sales and Over 18,000 Restaurants in 100 Countries
Tim Hortons and Burger King to Operate as Independent Brands While Benefiting From the New Company’s Global Scale and Reach, and Shared Best Practices
Transaction Enables Tim Hortons and Burger King to Continue Growing their Unique Brands and Significantly Accelerate International Expansion and Growth
3G Capital to own approximately 51% of new company
Oakville to remain global home of Tim Hortons; Miami to remain global home of Burger King
Investment Community Conference Call at 10:00 am EDT; Media Conference Call at 11:30 am EDT
Oakville, Ontario and Miami, Florida; August 26, 2014 – An agreement was reached today to create the world’s third largest quick service restaurant company. Tim Hortons Inc. (TSX, NYSE: THI) and Burger King Worldwide Inc. (NYSE: BKW) today announced a definitive agreement under which the two companies will create a new global powerhouse in the quick service restaurant sector. With approximately $23 billion in system sales, over 18,000 restaurants in 100 countries and two strong, thriving, independent brands, the new company will have an extensive international footprint and significant growth potential. The new global company will be based in Canada, the largest market of the combined company.
Tim Hortons and Burger King each have strong franchisee networks and iconic brands that are loved by their guests. Following the closing of the transaction, each brand will be managed independently, while benefitting from global scale and reach and sharing of best practices that will come with common ownership by the new company.