Tim Hortons Inc. is a Canada-based multinational corporation that sells coffee and other bakery items.
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• Revenue: 3.16 biilion US$
It is a quick service restaurant chain. Canadian hockey player Tim Horton and Jim Charade founded the company in Hamilton, Ontario in 1964. Its franchises spread very fast and overtook McDonald’s as Canada’s largest food operator. It also holds 62% of the Canadian coffee market. It mainly serves coffee, hot chocolate and doughnuts.
By 2009, Tim Hortons had completed a restructuring of its corporate structure to become a public company in Canada. On August 26, 2014, Burger King made an agreement to acquire Tim Hortons for an amount of US$11.4 billion. The chain became a subsidiary of the Restaurant Brands International, an Oakville-based holding company on December 15, 2014, which is majority-owned by 3G Capital from Brazil. Later a study revealed that the said acquisition is to have negative consequences for Canadians.