Merger will help expansion plans but could also change coffee chain’s more free-wheeling habits
Canadians aren’t likely to lose their beloved double-doubles or the Timbits that prove so perplexing to our American neighbours. But the planned acquisition of Canada’s Tim Hortons by the U.S.-based Burger King will undoubtedly bring changes.
Tim Hortons agreed Tuesday to be bought by 3G Capital, the investment firm that owns Burger King. The Miami-based burger chain said the new combined company would be based at the current headquarters of Tim Hortons in Oakville, Ont.
The $94-a-share deal has been unanimously approved by the boards of both companies, but is still subject to a shareholder vote. Regulators in the U.S. and Canada will also likely want a say.
If completed, the deal would automatically give the merged entity more clout simply by making it the world’s third-largest quick-service restaurant. The new company would have combined global sales of $23 billion and have 18,000 locations in 98 countries. Continue reading
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