Tim Hortons, Burger King Now Restaurant Brands International
New quick-service restaurant chain combo nabs "QSR" stock symbol
Published in CSP Daily News
Burger King Tim Hortons "Restarant Brands International" QSR foodservice (CSP Daily News / Convenience Stores)
It's Official: Burger King Buying Tim Hortons8/26/2014
OAKVILLE, Ontario -- Restaurant Brands International Inc. has completed a transaction with Tim Hortons Inc. and Burger King Worldwide Inc. that creates Restaurant Brands International, a new global quick-service restaurant (QSR) company operating two iconic, independent brands.
The new leadership team is made up of senior executives from the Tim Hortons and Burger King brands. Daniel Schwartz, formerly CEO of Burger King Worldwide, has been appointed to the role of CEO, Restaurant Brands International. Marc Caira, formerly CEO of Tim Hortons, will serve as vice chairman.
Other appointments included:
◾Díaz Sesé, president of the Tim Hortons brand.
◾José Cil, president of the Burger King brand.
◾Alex Macedo, president of Burger King North America.
◾David Clanachan, president and COO of Tim Hortons Canada.
◾Mike Meilleur, president of Tim Hortons U.S.
◾Scott Bonikowsky, chief communication and corporate affairs officer.
◾Heitor Gonçalves, chief people and information officer.
◾Josh Kobza, CFO.
◾Cara Piggot, senior vice president for supply chain.
◾Peter Nowlan, chief marketing officer.
◾Tammy Sadinsky Martin, senior vice president of retail.
◾Felipe Athayde, executive vice president for U.S. development.
◾Sami Siddiqui, executive vice president of finance.
Effective Dec. 12, 2014, Tim Hortons common shares and Burger King Worldwide common stock ceased trading on the Toronto Stock Exchange and New York Stock Exchange. Restaurant Brands International common shares began trading on the TSE and NYSE under the trading symbol "QSR" on December 15.
The company is majority-owned by 3G Capital, the previous majority owner of Burger King, which holds a 51% stake.
Oakville, Ontario-based Restaurant Brands International is one of the world's largest QSR companies with approximately $23 billion in system sales and more than 18,000 restaurants in 100 countries.
Tim Hortons is one of the largest restaurant chains in North America and the largest in Canada. Its menu includes premium coffee, hot and cold specialty drinks (including lattes, cappuccinos and espresso shots), specialty teas and fruit smoothies, fresh baked goods, grilled Panini and classic sandwiches, wraps, soups, prepared foods and other food products. As of Sept. 28, 2014, Tim Hortons had 4,590 systemwide restaurants, including 3,665 in Canada, 869 in the United States and 56 in the Gulf Cooperation Council.
Founded in 1954, Burger King is the second largest fast-food hamburger chain in the world. The Burger King system operates in approximately 14,000 locations in 100 countries and territories worldwide. The restaurants are owned and operated by independent franchisees, many of them family-owned operations.