World’s Third Largest Quick Serve Restaurant Group Launched
US-based Burger King has acquired Tim Hortons, the Canadian coffee and doughnuts chain, for C$12.5 billion (US$11.4 billion) to create the world’s third largest quick service restaurant group. The merged business will have approximately $23 billion in system sales, over 18,000 restaurants in 100 countries and two strong, thriving, independent brands. The new global company will have an extensive international footprint and significant growth potential. It will be based in Canada, the largest market of the combined company.
“Over the past four years, we have transformed Burger King into one of the fastest-growing and most profitable QSR businesses in the world, through successful international growth, a consistent focus on brand revitalization and strong commitment to our franchisees,” says Daniel Schwartz, CEO of Burger King. “We are excited to build on this progress as we continue to expand Burger King around the world and look forward to working with and learning from Tim Hortons as we together create the world’s leading global restaurant business.”
