tim hortons corporate headquarters in oakville ontario canada type public traded as tsx qsr nyse qsr s & p tsx 60 component industry restaurants founded december 15 2014 2014 12 15 headquarters oakville ontario canada number of locations 19 564 june 30 2016 1 areas served global key people alex behring executive chairman marc caira vice chairman daniel schwartz ceo owner 3g capital berkshire hathaway number of employees 450 000 subsidiaries burger king tim hortons website www.rbi.com restaurant brands international is a canadian multinational fast food company . formed by the 12.5 billion merger between american fast food restaurant chain burger king and the canadian coffee shop and restaurant chain tim hortons the company is the third largest operator of fast food restaurants in the world . 2 the company is based alongside tim hortons in oakville ontario but both chains retain their existing operations and headquarters in oakville and miami respectively . the merger focused primarily on expanding the international reach of the tim hortons brand and providing financial efficiencies for both companies . the company is majority owned by the brazilian investment company 3g capital the previous majority owner of burger king holding a 51 % stake . the remainder of the company is publicly traded on the new york and toronto stock exchanges and owned by the prior shareholders of burger king and tim hortons . the deal was approved by tim hortons shareholders on december 9 2014 and the company began trading on december 15 2014 . contents 1 history 2 ownership and leadership 3 references 4 external links history edit on august 24 2014 u.s. fast food chain burger king announced that it was in negotiations to merge with the canadian coffee shop and restaurant chain tim hortons ; 3 the proposed merger would involve a tax inversion into canada with a new holding company majority owned by burger king s current majority owner 3g capital 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 . 4 news of the proposal caused tim hortons shares to increase in value by 28 percent . 2 on august 25 2014 burger king officially confirmed its intent to acquire tim hortons inc. in a deal totalling cdn 12.5 billion us 11.4 billion . 5 3g capital would purchase the company at 65.50 per share and existing shareholders would receive 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 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 . 2 6 although tax inversions a process in which a company decreases the amount of taxes it pays by moving its headquarters to a country with lower rates but maintains the majority of their operations in their previous location have been a recent financial trend it did not have as much of an impact on burger king s reincorporation in canada . the corporate tax rate in the united states is 39.1 % while canada s corporate tax rate is only 26 % however burger king had already used various sheltering 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 had until the burger king merger been primarily invoked by pharmaceutical firms . 7 8 4 5 3g capital co founder alex behring denied that the merger was tax related stating that it was fundamentally about growth and creating value through accelerated expansion . 9 the deal was approved by the canadian competition bureau on october 28 2014 ruling that the deal was unlikely to result in a substantial lessening or prevention of competition . 10 the deal was approved by minister of industry james moore 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 up at least 30 % of tim hortons board of directors . 11 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 . 9 12 ownership and leadership edit 3g capital which held a 71 % majority stake in burger king holds a 51 % majority stake in restaurant brands international . 6 berkshire hathaway who partially funded the merger holds a 4.8 % stake . 13 burger king ceo daniel schwartz serves as ceo of the company with previous tim hortons ceo marc caira being vice chairman and director . el as d az ses formerly of burger king s asia pacific operations was named the new president of tim hortons while jose cil formerly of burger king s emea operations was named the new president of burger king . 14 references edit http api40 .10 kwizard.com cgi convert pdf restaurantbrandsinternationalinc 20160804 10q 20160630.pdf ipage 11073047 & xml 1 & quest 1 & rid 23 & section 1 & sequence 1 & pdf 1 & dn 1 a b c evans pete 26 august 2014 . tim hortons burger king agree to merger deal . cbc news . retrieved 26 august 2014 . sieniuc kat ; atkins eric 24 august 2014 . burger king in talks to acquire tim hortons . the globe and mail . retrieved 25 august 2014 . a b hoffman liz ; mattioli dana 25 august 2014 . burger king in talks to buy tim hortons in canada tax deal . retrieved 25 august 2014 . a b de la merced michael 26 august 2014 . burger king to buy tim hortons for 11.4 billion . new york times . retrieved 26 august 2014 . a b atkins eric ; nelson jacqueline 24 august 2014 . burger king tim hortons ink merger deal for 12.5 billion . the globe and mail . retrieved 26 august 2014 . puzzanghera jim 26 august 2014 . burger king tim hortons talks could turn up heat on tax inversions . los angeles times . retrieved 26 august 2014 . mckinnon john d. ; paletta damian 25 august 2014 . burger king tim hortons merger raises tax inversion issue . wall street journal . retrieved 26 august 2014 . a b shaw hollie 9 december 2014 . tim hortons enters next chapter as shareholders approve burger king s 12.5 billion takeover . financial post . retrieved december 10 2014 . evans pete 28 october 2014 . tim hortons burger king deal ok d by competition bureau . cbc news . retrieved 10 december 2014 . shaw hollie 4 december 2014 . burger king promises to ramp up tim hortons u.s. expansion as ottawa approves takeover . financial post . retrieved 10 december 2014 . tim hortons burger king finalize merger to form restaurant brands international . edmonton journal . canadian press . 12 december 2014 . retrieved 13 december 2014 . buhayar noah 15 december 2014 . berkshire to hold larger stake in burger king tim hortons parent . bloomberg businessweek . retrieved 15 december 2014 . calia michael 15 december 2014 . restaurant brands unveils management structure . the wall street journal . retrieved 15 december 2014 . external links edit company website v t e burger king history advertising advertising programs franchises countries with franchises legal issues products product list people james b. adamson brad blum greg brenneman norman e. brinker jeff campbell john w. chidsey jack cowin david edgerton james mclamore donald n. smith products beef sliders premium burgers bk xxl big king whopper chicken grilled chicken sandwiches specialty sandwiches bk chicken fries bk chicken nuggets tendercrisp other bk dinner baskets breakfast sandwiches fish sandwiches mac n cheetos storm ice cream advertising campaigns big bumpin bk tee vee burger king kingdom pocketbike racer sneak king the burger king the subservient chicken the whopperettes the whoppers ugoff where s herb sponsorships bk racing burger king classic alex bowman nascar joe nemechek nascar new zealand breakers nbl ryan truex nascar sauber f1 related subjects burger wars fast food advertising franchises and related topics amrest army and air force exchange service beurger king muslim bk whopper bar burger king israel burger king mattoon illinois carrols corporation simonds farsons cisk heartland food corporation hungry jack s australia tim hortons olayan group wimpy ownership pillsbury company grand metropolitan diageo tpg capital bain capital 3g capital berkshire hathaway restaurant brands international legal issues and cases burger king corporation v hungry jack s pty ltd burger king v. rudzewicz burger king pok mon container recall 2013 meat adulteration scandal v t e s & p tsx 60 companies of canada february 22 2016 agnico eagle mines agrium arc resources bank of montreal barrick gold bce inc. blackberry bombardier brookfield asset management cameco canadian imperial bank of commerce canadian national canadian natural resources canadian pacific canadian tire cenovus energy cgi group constellation software couche tard crescent point energy dollarama eldorado gold emera enbridge encana first quantum minerals franco nevada fortis inc. gildan goldcorp husky energy imperial oil inter pipeline kinross gold loblaw companies magna international manulife financial metro national bank of canada pembina pipeline potashcorp power corporation restaurant brands international rogers communications royal bank of canada saputo scotiabank shaw communications silver wheaton snc lavalin sun life financial suncor energy teck telus thomson reuters toronto dominion bank transcanada valeant weston yamana gold retrieved from https en.wikipedia.org w index.php title restaurant brands international & oldid 742000599 categories s & p tsx 60 indexs & p tsx composite index2014 establishments in ontarioburger kingcompanies based in oakville ontarioamerican companies established in 2014canadian companies established in 2014companies listed on the new york stock exchangecompanies listed on the toronto stock exchangefood and drink companies of canadafood and drink companies of the united statesmultinational food companiesrestaurant groups in the united statestim hortonsfood and drink companies established in 2014hidden categories pages using duplicate arguments in template callsuse canadian english from april 2016all wikipedia 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