Buy Canadian! But... is Tim Hortons actually still Canadian?
I thought that Tim Hortons was basically a Brazilian company, but it seems like things have changed over the years. Originally a wholly Canadian company, of course, ownership has varied over the years.
Article excerpt: "Tim Hortons was founded in 1964 by longtime Toronto Maple Leafs player Tim Horton, and was later taken over by Nova Scotia-born Ron Joyce after Horton's death in 1974.
In 1995, the business was bought by American burger chain Wendy's, but the two companies went their separate ways in 2006.
In 2014, Tim Hortons became part of Restaurant Brands International. This is where the idea of Tim's being Brazilian comes from. Restaurant Brands International's largest shareholder was the Brazilian investment firm 3G Capital.
In 2014, at the time of the takeover, 3G held 47 per cent of the voting power in Restaurant Brands International, but that has slowly decreased over time to 26 per cent as of Dec. 31, 2024.
Today, Canadian banks such as Toronto Dominion, Bank of Montreal, National Bank and Royal Bank, as well as Canadian institutional investors such as the CPP Investment Board, cumulatively hold a stake comparable to 3G, according to Michael Oliveira, the director of communications for Tim Hortons.
'We understand how this 'Brazilian-owned' narrative evolved over time but it's simply not accurate,' he said in an email.
Restaurant Brands International's financial documents show that U.S.-based Capital World Investors has the next largest percentage of voting power, at about 9.5 per cent, and U.S.-based Pershing Square Funds has about 6.5 per cent."
Well, I'm not exactly sure how Canadian percentages rack up in all those numbers among various shareholders, however the suggestion that it's Brazilian-owned is clearly not accurate today.
With 64% of Tim Hortons' restaurants worldwide located in Canada and employing 100,000 people, it's safe it say that the personality of the chain is definitely Canadian - as mentioned in the article. Furthermore, the chain's headquarters are located in Toronto with 400 employees.
While Canadians scrutinize the ownership of the products and services they're buying, when it comes to Tim Hortons, it may be complicated, but I think we're good.
Read: Is Tim Hortons Canadian?
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