Merger closed
Restaurant Brands International and Tim Hortons Inc. merger (2014)
Restaurant Brands International completed the merger with Tim Hortons on 12 December 2014 for $12.5 billion, buying from Tim Hortons Inc.[1]
Burger King, controlled by 3G Capital, merged with Tim Hortons to create Restaurant Brands International, headquartered in Canada. The move drew criticism in the United States as a tax inversion, and Berkshire Hathaway provided $3 billion of preferred equity financing.
Deal facts
- Announced
- Closed
- Value
- $12.5 billion (enterprise value)
- Buyer
- Restaurant Brands International
- Seller
- Tim Hortons Inc.
- Assets
- Tim Hortons
- Regulatory review
- None recorded
Ownership changes recorded from this deal
| Owner | Owned | Relationship | Stake | From | To |
|---|---|---|---|---|---|
| Restaurant Brands International | Tim Hortons | owns | 100% | 2014-12-12 | present |
| Tim Hortons Inc. | Tim Hortons | owns | 100% | 1964-05-17 | 2014-12-12 |
Who owns Tim Hortons today?
- Tim Hortons — owned by Restaurant Brands International since 2014
Sources (1) & corrections
Last verified . Every ownership fact above is backed by one of these primary documents. Numbers in brackets in the text refer to this list.
- [1] Restaurant Brands International Inc. Annual Report on Form 10-K — SEC EDGAR, SEC Form 10-K; retrieved 6 September 2026.
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