475:$ 12.5 billion (US$ 11.4 billion). 3G Capital purchased the company at $ 65.50 per share, and existing shareholders received $ 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, CEO Marc 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".
2857:
29:
518:
up at least 30% of Tim
Hortons' board of directors. Tim Hortons shareholders approved the merger on December 9, 2014; the same day, it was announced that the new holding company would be known as Restaurant Brands International, and trade under the ticker symbol QSR. Vice-chairman Marc Caira felt that the merger was the "next chapter" for Tim Hortons, envisioning a "bolder, more assertive, and dynamic Tim Hortons in the future" alongside its prospects for international expansion.
2355:
795:, which partially funded the merger, held a 4.8% stake in the mid to late 2010s. Previous Tim Hortons shareholders hold a sizeable share of the combined company. Until early 2019, Daniel Schwartz served as CEO of the company, with previous Tim Hortons CEO Marc Caira being vice-chairman and director. In January 2019, Jose Cil was named the CEO of Restaurant Brands International, and Schwartz was named the executive chairman of the company.
2893:
274:
254:
234:
214:
191:
2881:
2869:
468:, 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.
498:
techniques to reduce its tax rate to 27.5%. As a high-profile instance of tax inversion, news of the merger was criticized by U.S. politicians, who felt that the move would result in a loss of tax revenue to foreign interests, and could result in further government pressure against inversions (which
517:
on
December 4, 2014; the two companies agreed to conditions, requiring that the Burger King and Tim Hortons chains retain separate operations, not combine locations in Canada and the United States, maintain "significant employment levels" at the Oakville headquarters, and ensure that Canadians make
1307:
1351:
1492:
1225:
486:
but maintains the majority of their operations in their previous location, had been a recent financial trend, it did not have as much of an impact on Burger King's reincorporation in Canada. The
891:
879:
1391:
533:
for US$ 1.8 billion at US$ 79 per share. On March 27, 2017, the deal closed with RBI purchasing
Popeyes at $ 79 per share via Orange, Inc, an indirect subsidiary of RBI.
1308:"Restaurant Brands International Inc. Announces Successful Completion of its Tender Offer to Purchase All of the Outstanding Shares of Popeyes Louisiana Kitchen, Inc"
1582:
2948:
2943:
1067:
939:
1326:
426:. The 2014 merger focused primarily on expanding the international reach of the Tim Hortons brand and providing financial efficiencies for both companies.
958:
2322:
1352:"Restaurant Brands International Inc. Completes Acquisition of Firehouse Subs and Announces Increase in Borrowings Under Existing Term Loan A Facility"
1436:
1233:
521:
In
February 2024, RBI said it anticipates 40,000 restaurants worldwide by 2028, up from 31,070 across its various brands at the end of fiscal 2023.
510:
on
October 28, 2014, ruling that the deal was "unlikely to result in a substantial lessening or prevention of competition". The deal was approved by
1255:
2933:
391:
2928:
1811:
1575:
1462:
1119:
909:
880:
https://s26.q4cdn.com/317237604/files/doc_financials/2020/ar/Restaurant-Brands-International-%E2%80%93-2019-SEC-Form-10-K-Annual-Report.pdf
503:
denied that the merger was tax-related, stating that it was "fundamentally about growth and creating value through accelerated expansion".
444:
In March 2023, Joshua Kobza was named the CEO of
Restaurant Brands International, replacing Jose Cil, who had held the role since 2019.
1174:
2938:
2918:
2137:
1568:
1093:
2923:
2515:
1801:
2335:
1956:
1395:
1365:
2953:
2391:
1771:
2963:
2958:
1041:
1148:
1661:
1012:
1200:
2604:
2584:
1417:
811:
487:
298:
206:
855:
987:
514:
2002:
1961:
791:
3G Capital (which held a 71% majority stake in Burger King) holds a 32% stake in
Restaurant Brands International.
2211:
1681:
2544:
2329:
471:
On August 25, 2014, Burger King officially confirmed its intent to acquire Tim
Hortons Inc. in a deal totaling
1547:
511:
1282:
2589:
1826:
499:
had, until the Burger King merger, been primarily invoked by pharmaceutical firms). 3G Capital co-founder
2508:
2493:
2007:
1971:
1910:
1862:
507:
422:). For tax purposes, Burger King and Popeyes retain their existing operations and headquarters, both in
2847:
2614:
2231:
1701:
553:
The key trends for
Restaurant Brands International are (as of the financial year ending December 31):
2384:
1764:
403:
371:
2549:
2221:
1816:
1691:
1470:
456:
announced that it was in negotiations to merge with the
Canadian coffee shop and restaurant chain
2968:
2834:
2734:
2340:
2087:
1796:
1149:"Tim Hortons enters 'next chapter' as shareholders approve Burger King's $ 12.5 billion takeover"
491:
434:
378:. It was formed in 2014 by the $ 12.5 billion merger between American fast food restaurant chain
293:
178:
68:
464:
into Canada, with a new holding company majority-owned by Burger King's current majority-owner,
2913:
2669:
2649:
2579:
2501:
1806:
1791:
816:
438:
59:
2824:
2764:
2689:
2216:
2169:
1738:
1686:
433:, owns a 32% stake in Restaurant Brands International. The company is publicly traded on the
2769:
2377:
2358:
2226:
2133:
1821:
1757:
1696:
395:
195:
8:
2784:
2719:
2196:
2128:
2049:
1915:
1666:
1201:"Burger King promises to ramp up Tim Hortons' U.S. expansion as Ottawa approves takeover"
399:
1327:"Burger King parent Restaurant Brands International buys Firehouse Subs for $ 1 billion"
2794:
2709:
2477:
2298:
2273:
2252:
2247:
2206:
1992:
1717:
1676:
1607:
799:
792:
490:
in the United States was at the time 39.1% (since then lowered to 21%), while Canada's
172:
2829:
2754:
2609:
2456:
2440:
2268:
2107:
2102:
2017:
2012:
1997:
1857:
419:
1256:"Burger King parent Restaurant Brands International expects 40K restaurants by 2028"
2873:
2749:
2714:
2619:
2559:
2236:
2092:
2067:
1966:
1842:
1706:
1542:
429:
3G Restaurant Brands Holdings LP, an affiliate of the Brazilian investment company
266:
168:
1560:
1226:"Tim Hortons, Burger King finalize merger to form Restaurant Brands International"
478:
Although tax inversions, a process in which a company moves its headquarters to a
2819:
2112:
2082:
1887:
472:
375:
28:
2554:
2809:
2639:
2634:
2435:
2201:
2060:
1882:
1877:
1852:
1671:
1628:
1537:
537:
333:
42:
2907:
2897:
2861:
2799:
2684:
2629:
2624:
2569:
2524:
461:
77:
50:
2704:
2699:
2674:
2564:
2539:
2472:
2288:
2242:
1867:
1712:
1493:"Warren Buffett's Berkshire Hathaway Sells Off Its Restaurant Brands Stake"
914:
500:
2523:
2885:
2679:
2400:
2283:
2164:
2147:
1976:
1780:
1733:
1633:
1623:
1552:
1532:
495:
457:
453:
411:
383:
379:
325:
321:
90:
2779:
2774:
2414:
2293:
2074:
2054:
2044:
1940:
1920:
1872:
1602:
1366:"Restaurant Brands International Fundamentalanalyse | KGV | Kennzahlen"
540:
for US$ 1 billion. The acquisition was completed on December 15, 2021.
465:
430:
316:
288:
226:
1392:"Restaurant Brands International Fundamentals (2013-2021) – boerse.de"
72:
2804:
2729:
2654:
2419:
1847:
1094:"Burger King, Tim Hortons talks could turn up heat on tax inversions"
479:
407:
63:
2744:
2724:
2664:
1930:
1286:
483:
1437:"Berkshire to Hold Larger Stake in Burger King-Tim Hortons Parent"
2789:
2739:
2644:
2599:
2574:
1935:
1638:
1283:"Restaurant Brands to Add Popeyes to Tim Hortons and Burger King"
530:
415:
387:
329:
123:
119:
386:, and expanded by the 2017 purchase of American fast-food chain
2892:
2694:
2594:
2278:
2191:
2143:
1925:
1656:
2369:
1749:
2814:
2659:
2097:
1068:"Burger King, Tim Hortons ink merger deal for $ 12.5-billion"
423:
246:
2880:
988:"Burger King in Talks to Buy Tim Hortons in Canada Tax Deal"
940:"3G Capital selling $ 3 billion shares in Burger King owner"
802:
disclosed that they had completely sold their stake in RBI.
1120:"Burger King-Tim Hortons Merger Raises Tax-Inversion Issue"
494:
is only 26%; however, Burger King had already used various
1463:"Restaurant Brands names Burger King boss Jose Cil as CEO"
1175:"Tim Hortons, Burger King deal OK'd by Competition Bureau"
536:
On November 15, 2021, RBI announced its intent to acquire
529:
On February 21, 2017, RBI announced its intent to acquire
1418:"Restaurant Brands Financial Statements 2012-2020 | QSR"
1521:
1118:
McKinnon, John D.; Paletta, Damian (August 25, 2014).
1006:
1004:
2845:
1142:
1140:
892:"RESTAURANT BRANDS INTERNATIONAL INC. 2019 Form 10-K"
1066:
Atkins, Eric; Nelson, Jacqueline (August 24, 2014).
16:
Canadian multinational fast food holding corporation
1590:
1528:Business data for Restaurant Brands International:
1232:. Canadian Press. December 12, 2014. Archived from
1042:"Burger King to Buy Tim Hortons for $ 11.4 Billion"
1001:
1137:
1192:
344:
2905:
1354:(Press release). PR Newswire. December 15, 2021.
1035:
1033:
986:Hoffman, Liz; Mattioli, Dana (August 25, 2014).
2949:Companies listed on the New York Stock Exchange
2323:Burger King Corporation v Hungry Jack's Pty Ltd
1166:
1117:
1111:
1013:"Tim Hortons, Burger King agree to merger deal"
985:
2944:Companies listed on the Toronto Stock Exchange
957:Sieniuc, Kat; Atkins, Eric (August 24, 2014).
950:
910:"Tim Hortons to move its Canadian head office"
382:and Canadian coffee shop and restaurant chain
2509:
2385:
1765:
1576:
1085:
1030:
959:"Burger King in talks to acquire Tim Hortons"
956:
934:
932:
452:On August 24, 2014, American fast-food chain
1065:
1039:
1428:
1091:
981:
979:
786:
2516:
2502:
2392:
2378:
1772:
1758:
1583:
1569:
1218:
1059:
929:
907:
414:. They are based alongside Tim Hortons in
27:
1040:De La Merced, Michael (August 26, 2014).
976:
140:29,456 (December 31, 2021
1434:
506:The deal was approved in Canada by the
2934:Canadian companies established in 2014
2906:
1485:
460:. The proposed merger would involve a
2929:Holding companies established in 2014
2497:
2373:
1753:
1564:
1460:
1324:
1280:
1172:
1010:
2336:Burger King Pokémon container recall
1198:
1146:
1092:Puzzanghera, Jim (August 25, 2014).
543:
364:Restaurant Brands International Inc.
22:Restaurant Brands International Inc.
2835:Wheaton Precious Metals Corporation
1662:Army and Air Force Exchange Service
1461:Singh, Shradha (January 23, 2019).
1435:Buhayar, Noah (December 15, 2014).
1325:Lucas, Amelia (November 15, 2021).
908:Kalinowski, Tess (April 17, 2018).
13:
2605:Canadian Imperial Bank of Commerce
2600:Canadian Apartment Properties REIT
2585:Brookfield Infrastructure Partners
1454:
1394:. December 1, 2022. Archived from
812:List of Canadian restaurant chains
548:
14:
2980:
1513:
1281:Evans, Pete (February 21, 2017).
1199:Shaw, Hollie (December 4, 2014).
1147:Shaw, Hollie (December 9, 2014).
861:. Restaurant Brands International
2891:
2879:
2867:
2855:
2354:
2353:
1173:Evans, Pete (October 28, 2014).
273:
272:
253:
252:
233:
232:
213:
212:
190:
189:
2939:Restaurants established in 2014
2919:Restaurant Brands International
2760:Restaurant Brands International
2545:Algonquin Power & Utilities
2483:Restaurant Brands International
2399:
2304:Restaurant Brands International
2212:Burger King (Mattoon, Illinois)
1779:
1682:Burger King (Mattoon, Illinois)
1592:Restaurant Brands International
1410:
1384:
1358:
1344:
1318:
1300:
1274:
1248:
1011:Evans, Pete (August 26, 2014).
829:
524:
355:Footnotes / references
2924:2014 establishments in Ontario
2330:Burger King Corp. v. Rudzewicz
901:
884:
873:
848:
1:
842:
2954:Multinational food companies
2590:Brookfield Property Partners
7:
2964:Restaurant chains in Canada
2959:Holding companies of Canada
805:
10:
2985:
2615:Canadian Natural Resources
2232:Heartland Food Corporation
1957:Grilled chicken sandwiches
1702:Heartland Food Corporation
447:
2535:
2465:
2449:
2428:
2407:
2349:
2312:
2261:
2182:
2157:
2121:
2037:
2030:
1985:
1949:
1903:
1896:
1835:
1812:Countries with franchises
1787:
1726:
1647:
1616:
1598:
531:Popeyes Louisiana Kitchen
370:) is a Canadian-American
353:
339:
315:
305:
284:
264:
244:
224:
204:
185:
162:
152:
134:
114:
96:
86:
48:
38:
26:
2550:Alimentation Couche-Tard
1260:Nation's Restaurant News
822:
787:Ownership and leadership
78:S&P/TSX 60 component
2735:National Bank of Canada
2341:2013 horse meat scandal
2088:The Subservient Chicken
435:New York Stock Exchange
294:Capital World Investors
2670:First Quantum Minerals
2650:Constellation Software
2580:Brookfield Corporation
1441:Bloomberg Businessweek
856:"2021 Proxy Statement"
817:History of Burger King
439:Toronto Stock Exchange
404:McDonald's Corporation
100:December 15, 2014
2825:Toronto-Dominion Bank
2765:Rogers Communications
2217:Burger King (Alberta)
2170:Fast food advertising
1739:Fast food advertising
1687:Burger King (Alberta)
396:fast food restaurants
390:. The company is the
299:Pershing Square Funds
102:; 9 years ago
2770:Royal Bank of Canada
2527:companies of Canada
2227:Simonds Farsons Cisk
2134:New Zealand Breakers
2003:Breakfast sandwiches
1962:Specialty Sandwiches
1802:Advertising programs
1697:Simonds Farsons Cisk
1236:on December 16, 2014
946:. September 4, 2019.
512:Minister of Industry
33:Logo used since 2019
2785:Shaw Communications
2720:Magna International
2222:Carrols Corporation
2197:Beurger King Muslim
2129:Burger King Classic
2050:Burger King Kingdom
1692:Carrols Corporation
1667:Beurger King Muslim
1473:on February 9, 2019
1422:www.macrotrends.net
1398:on December 1, 2022
1262:. February 15, 2024
1124:Wall Street Journal
398:in the world after
307:Number of employees
136:Number of locations
23:
2795:Sun Life Financial
2710:Kirkland Lake Gold
2299:Berkshire Hathaway
2274:Grand Metropolitan
2207:Burger King Israel
1993:Impossible Whopper
1972:BK Chicken Nuggets
1677:Burger King Israel
1608:Berkshire Hathaway
1312:www.prnewswire.com
1072:The Globe and Mail
1046:The New York Times
963:The Globe and Mail
835:company owned only
800:Berkshire Hathaway
793:Berkshire Hathaway
508:Competition Bureau
492:corporate tax rate
488:corporate tax rate
173:executive chairman
21:
2843:
2842:
2830:Waste Connections
2755:Power Corporation
2610:Canadian National
2530:
2491:
2490:
2457:Tim Hortons Field
2441:Tim Hortons Brier
2367:
2366:
2178:
2177:
2113:"Whopper Whopper"
2108:Whopper Sacrifice
2026:
2025:
2018:Storm (ice cream)
1998:BK Dinner Baskets
1858:Norman E. Brinker
1747:
1746:
1098:Los Angeles Times
784:
783:
544:Corporate affairs
420:Oakville, Ontario
361:
360:
258:US$ 23.39 billion
2976:
2896:
2895:
2884:
2883:
2872:
2871:
2870:
2860:
2859:
2858:
2851:
2750:Pembina Pipeline
2715:Loblaw Companies
2620:Canadian Pacific
2560:Bank of Montreal
2528:
2518:
2511:
2504:
2495:
2494:
2394:
2387:
2380:
2371:
2370:
2357:
2356:
2158:Related subjects
2093:The Whopperettes
2068:PocketBike Racer
2035:
2034:
1967:BK Chicken Fries
1901:
1900:
1843:James B. Adamson
1774:
1767:
1760:
1751:
1750:
1727:Related subjects
1585:
1578:
1571:
1562:
1561:
1525:
1524:
1522:Official website
1508:
1507:
1505:
1503:
1489:
1483:
1482:
1480:
1478:
1469:. Archived from
1458:
1452:
1451:
1449:
1447:
1432:
1426:
1425:
1414:
1408:
1407:
1405:
1403:
1388:
1382:
1381:
1379:
1377:
1362:
1356:
1355:
1348:
1342:
1341:
1339:
1337:
1322:
1316:
1315:
1304:
1298:
1297:
1295:
1293:
1278:
1272:
1271:
1269:
1267:
1252:
1246:
1245:
1243:
1241:
1230:Edmonton Journal
1222:
1216:
1215:
1213:
1211:
1196:
1190:
1189:
1187:
1185:
1170:
1164:
1163:
1161:
1159:
1144:
1135:
1134:
1132:
1130:
1115:
1109:
1108:
1106:
1104:
1089:
1083:
1082:
1080:
1078:
1063:
1057:
1056:
1054:
1052:
1037:
1028:
1027:
1025:
1023:
1008:
999:
998:
996:
994:
983:
974:
973:
971:
969:
954:
948:
947:
936:
927:
926:
924:
922:
905:
899:
898:
896:
888:
882:
877:
871:
870:
868:
866:
860:
852:
836:
833:
798:In August 2020,
556:
555:
349:
346:
279:
278:US$ 4.73 billion
276:
275:
269:
259:
256:
255:
249:
239:
238:US$ 1.72 billion
236:
235:
219:
218:US$ 2.05 billion
216:
215:
207:Operating income
199:
193:
192:
169:J. Patrick Doyle
147:
145:
110:
108:
103:
31:
24:
20:
2984:
2983:
2979:
2978:
2977:
2975:
2974:
2973:
2904:
2903:
2902:
2890:
2878:
2868:
2866:
2856:
2854:
2846:
2844:
2839:
2820:Thomson Reuters
2531:
2529:(June 22, 2020)
2522:
2492:
2487:
2461:
2445:
2424:
2403:
2398:
2368:
2363:
2345:
2314:
2308:
2257:
2184:
2174:
2153:
2117:
2083:The Burger King
2022:
2008:Fish sandwiches
1981:
1945:
1911:Premium burgers
1892:
1888:Donald N. Smith
1868:John W. Chidsey
1831:
1783:
1778:
1748:
1743:
1722:
1649:
1643:
1612:
1594:
1589:
1557:
1520:
1519:
1516:
1511:
1501:
1499:
1491:
1490:
1486:
1476:
1474:
1459:
1455:
1445:
1443:
1433:
1429:
1416:
1415:
1411:
1401:
1399:
1390:
1389:
1385:
1375:
1373:
1364:
1363:
1359:
1350:
1349:
1345:
1335:
1333:
1323:
1319:
1306:
1305:
1301:
1291:
1289:
1279:
1275:
1265:
1263:
1254:
1253:
1249:
1239:
1237:
1224:
1223:
1219:
1209:
1207:
1197:
1193:
1183:
1181:
1171:
1167:
1157:
1155:
1145:
1138:
1128:
1126:
1116:
1112:
1102:
1100:
1090:
1086:
1076:
1074:
1064:
1060:
1050:
1048:
1038:
1031:
1021:
1019:
1009:
1002:
992:
990:
984:
977:
967:
965:
955:
951:
938:
937:
930:
920:
918:
906:
902:
894:
890:
889:
885:
878:
874:
864:
862:
858:
854:
853:
849:
845:
840:
839:
834:
830:
825:
808:
789:
581:
573:
568:
563:
551:
549:Business trends
546:
527:
450:
376:holding company
357:
343:
332:
328:
324:
308:
297:
292:
277:
265:
257:
245:
237:
229:
217:
209:
194:
176:
165:
155:
143:
141:
137:
130:
126:
106:
104:
101:
82:
53:
34:
17:
12:
11:
5:
2982:
2972:
2971:
2969:Tax inversions
2966:
2961:
2956:
2951:
2946:
2941:
2936:
2931:
2926:
2921:
2916:
2914:S&P/TSX 60
2901:
2900:
2888:
2876:
2864:
2841:
2840:
2838:
2837:
2832:
2827:
2822:
2817:
2812:
2807:
2802:
2797:
2792:
2787:
2782:
2777:
2772:
2767:
2762:
2757:
2752:
2747:
2742:
2737:
2732:
2727:
2722:
2717:
2712:
2707:
2702:
2697:
2692:
2687:
2682:
2677:
2672:
2667:
2662:
2657:
2652:
2647:
2642:
2640:Cenovus Energy
2637:
2635:CCL Industries
2632:
2627:
2622:
2617:
2612:
2607:
2602:
2597:
2592:
2587:
2582:
2577:
2572:
2567:
2562:
2557:
2552:
2547:
2542:
2536:
2533:
2532:
2525:S&P/TSX 60
2521:
2520:
2513:
2506:
2498:
2489:
2488:
2486:
2485:
2480:
2475:
2469:
2467:
2463:
2462:
2460:
2459:
2453:
2451:
2447:
2446:
2444:
2443:
2438:
2436:Centennial Cup
2432:
2430:
2426:
2425:
2423:
2422:
2417:
2411:
2409:
2405:
2404:
2397:
2396:
2389:
2382:
2374:
2365:
2364:
2362:
2361:
2350:
2347:
2346:
2344:
2343:
2338:
2333:
2326:
2318:
2316:
2310:
2309:
2307:
2306:
2301:
2296:
2291:
2286:
2281:
2276:
2271:
2265:
2263:
2259:
2258:
2256:
2255:
2250:
2245:
2240:
2234:
2229:
2224:
2219:
2214:
2209:
2204:
2202:BK Whopper Bar
2199:
2194:
2188:
2186:
2185:related topics
2183:Franchises and
2180:
2179:
2176:
2175:
2173:
2172:
2167:
2161:
2159:
2155:
2154:
2152:
2151:
2141:
2131:
2125:
2123:
2119:
2118:
2116:
2115:
2110:
2105:
2100:
2095:
2090:
2085:
2080:
2079:
2078:
2071:
2064:
2052:
2047:
2041:
2039:
2032:
2028:
2027:
2024:
2023:
2021:
2020:
2015:
2013:Mac n' Cheetos
2010:
2005:
2000:
1995:
1989:
1987:
1983:
1982:
1980:
1979:
1974:
1969:
1964:
1959:
1953:
1951:
1947:
1946:
1944:
1943:
1938:
1933:
1928:
1923:
1918:
1913:
1907:
1905:
1898:
1894:
1893:
1891:
1890:
1885:
1883:James McLamore
1880:
1878:David Edgerton
1875:
1870:
1865:
1860:
1855:
1853:Greg Brenneman
1850:
1845:
1839:
1837:
1833:
1832:
1830:
1829:
1824:
1819:
1814:
1809:
1804:
1799:
1794:
1788:
1785:
1784:
1777:
1776:
1769:
1762:
1754:
1745:
1744:
1742:
1741:
1736:
1730:
1728:
1724:
1723:
1721:
1720:
1715:
1710:
1704:
1699:
1694:
1689:
1684:
1679:
1674:
1672:BK Whopper Bar
1669:
1664:
1659:
1653:
1651:
1650:related topics
1648:Franchises and
1645:
1644:
1642:
1641:
1636:
1631:
1629:Firehouse Subs
1626:
1620:
1618:
1614:
1613:
1611:
1610:
1605:
1599:
1596:
1595:
1588:
1587:
1580:
1573:
1565:
1559:
1558:
1556:
1555:
1550:
1545:
1540:
1535:
1529:
1526:
1515:
1514:External links
1512:
1510:
1509:
1484:
1453:
1427:
1409:
1383:
1357:
1343:
1317:
1299:
1273:
1247:
1217:
1205:Financial Post
1191:
1165:
1153:Financial Post
1136:
1110:
1084:
1058:
1029:
1000:
975:
949:
928:
900:
883:
872:
846:
844:
841:
838:
837:
827:
826:
824:
821:
820:
819:
814:
807:
804:
788:
785:
782:
781:
779:
776:
773:
770:
767:
763:
762:
760:
757:
754:
751:
748:
744:
743:
740:
737:
734:
731:
728:
724:
723:
720:
717:
714:
711:
708:
704:
703:
700:
697:
694:
691:
688:
684:
683:
680:
677:
674:
671:
668:
664:
663:
660:
657:
654:
651:
648:
644:
643:
640:
637:
634:
631:
628:
624:
623:
620:
617:
614:
611:
608:
604:
603:
600:
597:
594:
591:
588:
584:
583:
578:
575:
570:
565:
560:
550:
547:
545:
542:
538:Firehouse Subs
526:
523:
449:
446:
359:
358:
351:
350:
341:
337:
336:
334:Firehouse Subs
319:
313:
312:
309:
306:
303:
302:
286:
282:
281:
270:
262:
261:
250:
242:
241:
230:
225:
222:
221:
210:
205:
202:
201:
187:
183:
182:
177:Joshua Kobza (
166:
163:
160:
159:
156:
153:
150:
149:
138:
135:
132:
131:
128:
118:
116:
112:
111:
98:
94:
93:
88:
84:
83:
81:
80:
75:
66:
56:
54:
49:
46:
45:
40:
36:
35:
32:
15:
9:
6:
4:
3:
2:
2981:
2970:
2967:
2965:
2962:
2960:
2957:
2955:
2952:
2950:
2947:
2945:
2942:
2940:
2937:
2935:
2932:
2930:
2927:
2925:
2922:
2920:
2917:
2915:
2912:
2911:
2909:
2899:
2894:
2889:
2887:
2882:
2877:
2875:
2865:
2863:
2853:
2852:
2849:
2836:
2833:
2831:
2828:
2826:
2823:
2821:
2818:
2816:
2813:
2811:
2808:
2806:
2803:
2801:
2800:Suncor Energy
2798:
2796:
2793:
2791:
2788:
2786:
2783:
2781:
2778:
2776:
2773:
2771:
2768:
2766:
2763:
2761:
2758:
2756:
2753:
2751:
2748:
2746:
2743:
2741:
2738:
2736:
2733:
2731:
2728:
2726:
2723:
2721:
2718:
2716:
2713:
2711:
2708:
2706:
2703:
2701:
2698:
2696:
2693:
2691:
2690:George Weston
2688:
2686:
2685:Franco-Nevada
2683:
2681:
2678:
2676:
2673:
2671:
2668:
2666:
2663:
2661:
2658:
2656:
2653:
2651:
2648:
2646:
2643:
2641:
2638:
2636:
2633:
2631:
2630:Canopy Growth
2628:
2626:
2625:Canadian Tire
2623:
2621:
2618:
2616:
2613:
2611:
2608:
2606:
2603:
2601:
2598:
2596:
2593:
2591:
2588:
2586:
2583:
2581:
2578:
2576:
2573:
2571:
2570:Bausch Health
2568:
2566:
2563:
2561:
2558:
2556:
2553:
2551:
2548:
2546:
2543:
2541:
2538:
2537:
2534:
2526:
2519:
2514:
2512:
2507:
2505:
2500:
2499:
2496:
2484:
2481:
2479:
2476:
2474:
2471:
2470:
2468:
2464:
2458:
2455:
2454:
2452:
2448:
2442:
2439:
2437:
2434:
2433:
2431:
2427:
2421:
2418:
2416:
2413:
2412:
2410:
2406:
2402:
2395:
2390:
2388:
2383:
2381:
2376:
2375:
2372:
2360:
2352:
2351:
2348:
2342:
2339:
2337:
2334:
2332:
2331:
2327:
2325:
2324:
2320:
2319:
2317:
2311:
2305:
2302:
2300:
2297:
2295:
2292:
2290:
2287:
2285:
2282:
2280:
2277:
2275:
2272:
2270:
2267:
2266:
2264:
2260:
2254:
2251:
2249:
2246:
2244:
2241:
2238:
2237:Hungry Jack's
2235:
2233:
2230:
2228:
2225:
2223:
2220:
2218:
2215:
2213:
2210:
2208:
2205:
2203:
2200:
2198:
2195:
2193:
2190:
2189:
2187:
2181:
2171:
2168:
2166:
2163:
2162:
2160:
2156:
2149:
2145:
2142:
2139:
2135:
2132:
2130:
2127:
2126:
2124:
2120:
2114:
2111:
2109:
2106:
2104:
2103:Where's Herb?
2101:
2099:
2096:
2094:
2091:
2089:
2086:
2084:
2081:
2077:
2076:
2072:
2070:
2069:
2065:
2063:
2062:
2058:
2057:
2056:
2053:
2051:
2048:
2046:
2043:
2042:
2040:
2036:
2033:
2029:
2019:
2016:
2014:
2011:
2009:
2006:
2004:
2001:
1999:
1996:
1994:
1991:
1990:
1988:
1984:
1978:
1975:
1973:
1970:
1968:
1965:
1963:
1960:
1958:
1955:
1954:
1952:
1948:
1942:
1939:
1937:
1934:
1932:
1929:
1927:
1924:
1922:
1919:
1917:
1914:
1912:
1909:
1908:
1906:
1902:
1899:
1895:
1889:
1886:
1884:
1881:
1879:
1876:
1874:
1871:
1869:
1866:
1864:
1863:Jeff Campbell
1861:
1859:
1856:
1854:
1851:
1849:
1846:
1844:
1841:
1840:
1838:
1834:
1828:
1825:
1823:
1820:
1818:
1815:
1813:
1810:
1808:
1805:
1803:
1800:
1798:
1795:
1793:
1790:
1789:
1786:
1782:
1775:
1770:
1768:
1763:
1761:
1756:
1755:
1752:
1740:
1737:
1735:
1732:
1731:
1729:
1725:
1719:
1716:
1714:
1711:
1708:
1707:Hungry Jack's
1705:
1703:
1700:
1698:
1695:
1693:
1690:
1688:
1685:
1683:
1680:
1678:
1675:
1673:
1670:
1668:
1665:
1663:
1660:
1658:
1655:
1654:
1652:
1646:
1640:
1637:
1635:
1632:
1630:
1627:
1625:
1622:
1621:
1619:
1615:
1609:
1606:
1604:
1601:
1600:
1597:
1593:
1586:
1581:
1579:
1574:
1572:
1567:
1566:
1563:
1554:
1551:
1549:
1546:
1544:
1541:
1539:
1536:
1534:
1531:
1530:
1527:
1523:
1518:
1517:
1498:
1494:
1488:
1472:
1468:
1464:
1457:
1442:
1438:
1431:
1423:
1419:
1413:
1397:
1393:
1387:
1371:
1367:
1361:
1353:
1347:
1332:
1328:
1321:
1313:
1309:
1303:
1288:
1284:
1277:
1261:
1257:
1251:
1235:
1231:
1227:
1221:
1206:
1202:
1195:
1180:
1176:
1169:
1154:
1150:
1143:
1141:
1125:
1121:
1114:
1099:
1095:
1088:
1073:
1069:
1062:
1047:
1043:
1036:
1034:
1018:
1014:
1007:
1005:
989:
982:
980:
964:
960:
953:
945:
941:
935:
933:
917:
916:
911:
904:
893:
887:
881:
876:
857:
851:
847:
832:
828:
818:
815:
813:
810:
809:
803:
801:
796:
794:
780:
777:
774:
771:
768:
765:
764:
761:
758:
755:
752:
749:
746:
745:
741:
738:
735:
732:
729:
726:
725:
721:
718:
715:
712:
709:
706:
705:
701:
698:
695:
692:
689:
686:
685:
681:
678:
675:
672:
669:
666:
665:
661:
658:
655:
652:
649:
646:
645:
641:
638:
635:
632:
629:
626:
625:
621:
618:
615:
612:
609:
606:
605:
601:
598:
595:
592:
589:
586:
585:
579:
576:
571:
566:
561:
558:
557:
554:
541:
539:
534:
532:
522:
519:
516:
513:
509:
504:
502:
497:
493:
489:
485:
482:with a lower
481:
476:
474:
469:
467:
463:
462:tax inversion
459:
455:
445:
442:
440:
436:
432:
427:
425:
421:
417:
413:
409:
405:
401:
397:
393:
392:fifth-largest
389:
385:
381:
377:
373:
372:multinational
369:
365:
356:
352:
348:
342:
338:
335:
331:
327:
323:
320:
318:
314:
310:
304:
300:
295:
290:
287:
283:
271:
268:
263:
251:
248:
243:
231:
228:
223:
211:
208:
203:
197:
188:
184:
180:
174:
170:
167:
161:
157:
151:
139:
133:
125:
121:
117:
113:
99:
95:
92:
89:
85:
79:
76:
74:
70:
67:
65:
61:
58:
57:
55:
52:
47:
44:
41:
37:
30:
25:
19:
2759:
2705:Kinross Gold
2700:Imperial Oil
2675:FirstService
2565:Barrick Gold
2555:AtkinsRĂ©alis
2540:Agnico Eagle
2482:
2473:Always Fresh
2328:
2321:
2313:Legal issues
2303:
2289:Bain Capital
2243:Olayan Group
2122:Sponsorships
2073:
2066:
2059:
1827:Product list
1817:Legal issues
1713:Olayan Group
1591:
1500:. Retrieved
1496:
1487:
1475:. Retrieved
1471:the original
1466:
1456:
1446:December 15,
1444:. Retrieved
1440:
1430:
1421:
1412:
1400:. Retrieved
1396:the original
1386:
1374:. Retrieved
1369:
1360:
1346:
1336:November 16,
1334:. Retrieved
1330:
1320:
1311:
1302:
1292:February 22,
1290:. Retrieved
1276:
1266:February 16,
1264:. Retrieved
1259:
1250:
1240:December 13,
1238:. Retrieved
1234:the original
1229:
1220:
1210:December 10,
1208:. Retrieved
1204:
1194:
1184:December 10,
1182:. Retrieved
1178:
1168:
1158:December 10,
1156:. Retrieved
1152:
1127:. Retrieved
1123:
1113:
1101:. Retrieved
1097:
1087:
1075:. Retrieved
1071:
1061:
1049:. Retrieved
1045:
1020:. Retrieved
1016:
991:. Retrieved
966:. Retrieved
962:
952:
943:
919:. Retrieved
915:Toronto Star
913:
903:
886:
875:
863:. Retrieved
850:
831:
797:
790:
582:restaurants
572:Total assets
552:
535:
528:
525:Acquisitions
520:
505:
501:Alex Behring
477:
470:
451:
443:
428:
418:(previously
394:operator of
367:
363:
362:
354:
317:Subsidiaries
280: (2023)
267:Total equity
260: (2023)
247:Total assets
240: (2023)
220: (2023)
200: (2023)
198:7.02 billion
115:Headquarters
39:Company type
18:
2401:Tim Hortons
2284:TPG Capital
2239:(Australia)
2165:Burger wars
2061:Big Bumpin'
2031:Advertising
1977:TenderCrisp
1797:Advertising
1781:Burger King
1734:Burger Wars
1709:(Australia)
1634:Tim Hortons
1624:Burger King
1548:SEC filings
1372:(in German)
515:James Moore
458:Tim Hortons
454:Burger King
412:Yum! Brands
384:Tim Hortons
380:Burger King
326:Tim Hortons
322:Burger King
154:Area served
91:Foodservice
2908:Categories
2780:Scotiabank
2450:Facilities
2415:Tim Horton
2294:3G Capital
2075:Sneak King
2055:King Games
2045:BK Tee Vee
1941:Whopperito
1921:BK Stacker
1873:Jack Cowin
1807:Franchises
1603:3G Capital
1502:October 4,
1129:August 26,
1103:August 26,
1077:August 26,
1051:August 26,
1022:August 26,
993:August 25,
968:August 25,
843:References
580:Systemwide
577:Employees
574:(US$ bn)
567:Net income
564:(US$ bn)
496:sheltering
466:3G Capital
431:3G Capital
374:fast food
289:3G Capital
227:Net income
164:Key people
144:2021-12-31
107:2014-12-15
2874:Companies
2805:TC Energy
2655:Dollarama
2420:Ron Joyce
2315:and cases
2269:Pillsbury
2262:Ownership
2038:Campaigns
1848:Brad Blum
1533:Bloomberg
1477:March 20,
1402:August 2,
1376:August 2,
1370:boerse.de
921:April 17,
865:April 22,
569:(US$ m)
408:Starbucks
158:Worldwide
51:Traded as
2745:OpenText
2725:Manulife
2665:Enbridge
2359:Category
1931:Big King
1897:Products
1822:Products
1287:CBC News
1179:CBC News
1017:CBC News
806:See also
484:tax rate
437:and the
87:Industry
2848:Portals
2790:Shopify
2740:Nutrien
2478:Dutchie
2466:Related
1950:Chicken
1936:Whopper
1916:Sliders
1792:History
1639:Popeyes
1543:Reuters
1467:Reuters
944:Reuters
742:29,456
722:27,025
702:27,086
682:25,744
662:24,407
642:20,351
622:19,416
602:19,043
562:Revenue
480:country
448:History
416:Toronto
388:Popeyes
340:Website
330:Popeyes
291:(30.8%)
186:Revenue
142: (
124:Ontario
120:Toronto
105: (
97:Founded
71::
62::
2898:Coffee
2862:Canada
2775:Saputo
2695:Gildan
2680:Fortis
2595:Cameco
2429:Events
2408:People
2279:Diageo
2192:AmRest
2144:Sauber
1926:BK XXL
1836:People
1657:AmRest
1617:Brands
1553:Yahoo!
1538:Google
1497:NASDAQ
778:9,000
772:1,190
759:6,400
753:1,008
739:5,700
719:5,200
699:6,300
679:6,000
659:6,200
639:4,300
619:4,300
599:4,600
400:Subway
301:(6.3%)
296:(7.9%)
285:Owners
129:Canada
43:Public
2815:Telus
2730:Metro
2660:Emera
2253:Wimpy
2248:Quick
2098:Ugoff
1986:Other
1718:Wimpy
895:(PDF)
859:(PDF)
823:Notes
775:23.3
766:2023
756:22.7
747:2022
736:23.2
727:2021
716:22.7
707:2020
696:22.3
687:2019
676:20.1
667:2018
656:21.2
647:2017
636:19.1
627:2016
616:18.4
607:2015
596:21.3
593:–277
587:2014
559:Year
424:Miami
311:6,300
2886:Food
2810:Teck
1904:Beef
1504:2020
1479:2019
1448:2014
1404:2024
1378:2024
1338:2021
1331:CNBC
1294:2017
1268:2024
1242:2014
1212:2014
1186:2014
1160:2014
1131:2014
1105:2014
1079:2014
1053:2014
1024:2014
995:2014
970:2014
923:2018
867:2021
769:7.0
750:6.5
733:838
730:5.7
713:486
710:4.9
693:643
690:5.6
673:612
670:5.3
653:626
650:4.5
633:616
630:4.1
613:375
610:4.0
590:1.1
410:and
347:.com
196:US$
69:NYSE
2645:CGI
2575:BCE
2138:NBL
473:CDN
368:RBI
345:rbi
179:CEO
73:QSR
64:QSR
60:TSX
2910::
2148:F1
1495:.
1465:.
1439:.
1420:.
1368:.
1329:.
1310:.
1285:.
1258:.
1228:.
1203:.
1177:.
1151:.
1139:^
1122:.
1096:.
1070:.
1044:.
1032:^
1015:.
1003:^
978:^
961:.
942:.
931:^
912:.
441:.
406:,
402:,
127:,
122:,
2850::
2517:e
2510:t
2503:v
2393:e
2386:t
2379:v
2150:)
2146:(
2140:)
2136:(
1773:e
1766:t
1759:v
1584:e
1577:t
1570:v
1506:.
1481:.
1450:.
1424:.
1406:.
1380:.
1340:.
1314:.
1296:.
1270:.
1244:.
1214:.
1188:.
1162:.
1133:.
1107:.
1081:.
1055:.
1026:.
997:.
972:.
925:.
897:.
869:.
366:(
181:)
175:)
171:(
148:)
146:)
109:)
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.