Editing Tim Hortons (section)

==History==
===1964–1989: Tim Horton and Ron Joyce===
[[File:Original Tim Horton's (29833801682).jpg|thumb|left| The first Tim Hortons outlet ca. late 1970s-early 1980s in [[Hamilton, Ontario]] at Ottawa St. N. and Dunsmure Road (renovated in 2014, see below)]] 
[[File:Original Tim Hortons - Hamilton, ON.jpg|thumb|left| The first Tim Hortons outlet (same as above) as seen in 2016 after renovation]] 
The business was founded by [[Tim Horton]], who played in the [[National Hockey League]] from 1949 until his death in an auto crash in 1974.<ref>Cormack, Patricia, "True Stories' of Canada Tim Hortons and the Branding of National Identity," Cultural Sociology 2, no. 3 (2008): 371</ref><ref>{{cite web
  | title = Tim Horton (1930–1974)
  | publisher = Tim Hortons
  | url = http://www.timhortons.com/en/about/bio_timhorton.html
  | access-date = November 25, 2008
  | url-status = dead
  | archive-url = https://web.archive.org/web/20080229145023/http://www.timhortons.com/en/about/bio_timhorton.html
  | archive-date = February 29, 2008
  | df = mdy-all
}}</ref> The first Tim Horton restaurant was in [[North Bay, Ontario]], and sold hamburgers.<ref>{{cite news|url=https://www.cbc.ca/news/canada/hamilton/headlines/north-bay-lays-claim-to-hamilton-s-tim-hortons-origins-story-1.2649443|title=North Bay lays claim to Hamilton's Tim Hortons origins story|date=May 21, 2014|work=CBC}}</ref> The chain's first donut store opened on May 17, 1964, in [[Hamilton, Ontario]] under the name Tim Horton Donuts.<ref>{{cite news|url=https://www.cbc.ca/news/canada/hamilton/headlines/tim-hortons-at-50-from-corner-shop-to-canadian-icon-1.2646274|title=Tim Hortons at 50: From corner shop to Canadian icon|date=May 17, 2014|work=CBC}}</ref> The name was later abbreviated to "Tim Horton's" and then changed to "Tim Hortons" without the possessive apostrophe.

Soon after Horton opened the store, he met [[Ron Joyce]], a former police constable in Hamilton. In 1965, Joyce took over the fledgling Tim Horton Donut Shop at 65 Ottawa Street North. By 1967, after opening two additional stores, the two became full partners. Upon Horton's death in 1974, Joyce bought out the Horton family's shares for $1&nbsp;million and took over as sole owner of the existing chain of 40 stores, quickly and aggressively expanding the chain in both geography and product selection. The 500th store opened in 1991.<ref name="The Story of Tim Hortons">{{cite web
 |title=The Story of Tim Hortons
 |publisher=Tim Hortons
 |url=http://www.timhortons.com/en/about/index.html
 |access-date=November 25, 2008
 |url-status=dead
 |archive-url=https://web.archive.org/web/20080530034526/http://www.timhortons.com/en/about/index.html
 |archive-date=May 30, 2008
}}</ref>

Joyce's aggressive expansion of the business resulted in major changes to the Canadian coffee and donut restaurant market. Many independent donut shops and small chains were driven out of business, while Canada's [[Per capita income|per-capita]] ratio of donut shops surpassed that of all other countries.<ref name="ind">{{Cite episode | title = The unofficial national sugary snack | network = [[Canadian Broadcasting Corporation]] | airdate = September 1, 1994 | url = http://archives.cbc.ca/IDC-1-69-1371-8375/life_society/canadian_food/clip8 | series = My Canada Includes Tourtière}}</ref>

The Horton and Joyce partnership carried on, with the marriage of Joyce's son, Ron Joyce Jr., and Horton's eldest daughter, Jeri-Lynn Horton-Joyce, who were joint owners of Tim Hortons franchises in [[Cobourg|Cobourg, Ontario]] until 2023 when the couple retired after 37 years.<ref>{{cite news |last1=Saltzman |first1=Aaron |title=Multiple Tim Hortons franchises, other businesses cut pay, benefits, citing minimum wage hike |url=https://www.cbc.ca/news/business/tim-hortons-heirs-minimum-wage-wynne-ontario-1.4472878 |access-date=27 August 2019 |publisher=CBC News |date=January 5, 2018}}</ref>

===1990–2002: Name change and growth===
[[File:Tim Hortons logo (original).svg|thumb|Tim Hortons logo as used in the mid-1990s]]
The company had originally been incorporated as Tim Donut Limited.<ref name=charade>{{cite web | url = http://v1.theglobeandmail.com/servlet/story/LAC.20090813.OBCHARADE13ART2152/BDAStory/BDA/deaths/?pageRequested=all | title = The 'idea guy' behind Tim Hortons saw others get rich while he went bankrupt: Entrepreneur was the ill-fated hockey player's first partner in the little donut chain that grew | first = Danny | last = Gallagher | work = The Globe and Mail | location = Canada | date = August 13, 2009 | access-date = December 16, 2010 | archive-date = October 8, 2018 | archive-url = https://web.archive.org/web/20181008055154/http://v1.theglobeandmail.com/servlet/story/LAC.20090813.OBCHARADE13ART2152/BDAStory/BDA/deaths/?pageRequested=all | url-status = dead }}</ref> By the 1990s, the company name had changed to The TDL Group Ltd. This was an effort by the company to diversify the business, removing the primary emphasis on donuts, and continuing the expansion of the menu options as consumer tastes broadened.<ref name="The Story of Tim Hortons"/>

Some older locations retain signage with the company's name, including a possessive apostrophe, despite the fact that the official styling of the company's name has been Tim Hortons without an apostrophe for at least a decade.<ref>{{cite news | last = Dickinson | first = Casey | title = Canadian Doughnut Shop Targets Upstate | work=CNY Business Journal | date = November 24, 2000 | url = http://findarticles.com/p/articles/mi_qa3718/is_200011/ai_n8927439/ |archive-url=https://web.archive.org/web/20060318230325/http://findarticles.com/p/articles/mi_qa3718/is_200011/ai_n8927439/|archive-date=18 March 2006}}</ref> The company had removed the apostrophe after signs using the apostrophe was interpreted by some to be breaking the [[Charter of the French Language#Commerce and business|language sign laws]] of the province of Quebec in 1993.<ref>{{Cite web | url=https://www.oqlf.gouv.qc.ca/ressources/bibliotheque/depliants/20130513_depliant5d.pdf | title=French language Commerce laws | website=oqlf | access-date=2020-01-29 | archive-date=October 30, 2020 | archive-url=https://web.archive.org/web/20201030141214/https://www.oqlf.gouv.qc.ca/ressources/bibliotheque/depliants/20130513_depliant5d.pdf | url-status=dead }}</ref> The removal of the apostrophe allowed the company to have one common sign image across Canada.<ref>{{Cite web|url=https://www.wkyc.com/article/life/food/to-apostrophe-or-not-apostrophe-why-is-tim-hortons-not-tim-hortons/95-485466886|title=To apostrophe or not apostrophe? Why is Tim Hortons not Tim Horton's?|website=WKYC|date=October 23, 2017 |access-date=2019-03-06}}</ref>

Although a number of Quebec locations have bilingual menu boards, the decision to have both Canadian official languages represented is left to the discretion of individual franchise owners. Some Quebec locations have French-only menu boards. It is the strong recommendation to all the Quebec restaurants from the TDL Group Corporation that they post menu boards in both English and French in accordance with the standards being enforced by the ''[[Office québécois de la langue française]]''.<ref>{{Cite web|url=https://quebecitie.blogspot.com/2014/10/tim-hortons-bilingual-service-or-not.html|title=QuebeCitie: Tim Hortons: Bilingual signage? Or not.|date=April 15, 2019}}</ref>

====Merger with Wendy's====
[[File:MarkhamTimHortons3.jpg|thumb|right|A Tim Hortons/Wendy's joint restaurant in [[Markham, Ontario]]]]
In 1992, the owner of all Tim Hortons and [[Wendy's]] restaurants in [[Prince Edward Island]], Daniel P. Murphy, decided to open new franchise outlets for both brands in the same building in the town of Montague. Murphy invited Joyce and Wendy's chairman [[Dave Thomas (American businessman)|Dave Thomas]] to the grand opening of the "combo store," where the two executives met for the first time. Murphy's success with combining coffee and donuts with Wendy's fast food led to the August 8, 1995 acquisition of and merger with TDL Group by [[The Wendy's Company|Wendy's International, Inc]]., an American company; this lasted until 2009.<ref>{{Cite video | url = http://archives.cbc.ca/IDC-1-73-2330-13539-10/on_this_day/politics_economy/twt |publisher=Canadian Broadcasting Corporation | title = US burger giant buys Tim Hortons doughnut chain | date=August 10, 1995}}</ref>

The sale was widely commented on in the media. In 1995, the ''[[Toronto Star]]'' had a column reflecting on Tim Hortons "selling out" to Wendy's with "the spectacle of another great Canadian icon...gone to Yankee burgerfat".<ref>Susan Kastner [https://pqasb.pqarchiver.com/thestar/access/21226435.html?dids=21226435:21226435&FMT=ABS&FMTS=ABS:FT&type=current&date=Aug+13%2C+1995&author=By+Susan+Kastner+Toronto+Star&pub=Toronto+Star&desc=Simple+fairytale+takes+on+whole+new+meaning&pqatl=google Simple fairytale takes on whole new meaning]  {{webarchive|url=https://web.archive.org/web/20121023191808/https://pqasb.pqarchiver.com/thestar/access/21226435.html?dids=21226435%3A21226435&FMT=ABS&FMTS=ABS%3AFT&type=current&date=Aug%2013%2C%201995&author=By%20Susan%20Kastner%20Toronto%20Star&pub=Toronto%20Star&desc=Simple%20fairytale%20takes%20on%20whole%20new%20meaning&pqatl=google |date=October 23, 2012 }} [Final Edition] August 13, 1995, page E.2 Section: PEOPLE Toronto Star</ref>

===2002–2006: Regaining independence===
Tim Hortons franchises spread rapidly and eventually overtook [[McDonald's]] as Canada's largest food service operator.<ref>{{Cite web |last1=cycles |first1=This text provides general information Statista assumes no liability for the information given being complete or correct Due to varying update |last2=Text |first2=Statistics Can Display More up-to-Date Data Than Referenced in the |title=Topic: Tim Hortons |url=https://www.statista.com/topics/2145/tim-hortons/ |access-date=2024-08-08 |website=Statista |language=en}}</ref> The company opened twice as many Canadian outlets as McDonald's by 2005,<ref name="obj">{{cite news | title = Wendy's confirms Tim Hortons IPO by March | work = [[Ottawa Business Journal]] | date = December 1, 2005 | url = http://www.ottawabusinessjournal.com/284838323369567.php | url-status = dead | archive-url = https://web.archive.org/web/20060629032314/http://www.ottawabusinessjournal.com/284838323369567.php | archive-date = June 29, 2006 }}</ref> and system-wide sales also surpassed those of McDonald's Canadian operations as of 2002.<ref>{{cite web | title = Marketer of the Year: Down-Home Smarts | work=[[Marketing Magazine]] | date = February 7, 2005 | url = http://www.marketingmag.ca/magazine/current/marketer_year/article.jsp?content=20050207_66405_66405 | archive-url = https://web.archive.org/web/20070927032702/http://www.marketingmag.ca/magazine/current/marketer_year/article.jsp?content=20050207_66405_66405 | archive-date = September 27, 2007 | first = Rebecca | last = Harris}}</ref> The chain accounted for 22.6% of all fast-food industry revenues in Canada in 2005.<ref name="obj" />

Under pressure from major investors Peter May and [[Nelson Peltz]],<ref name=Reuters2005>{{cite news|title=Wendy's Says Nelson Peltz Gave 'Ultimatum'|url=https://www.foxnews.com/story/wendys-says-nelson-peltz-gave-ultimatum|access-date=March 1, 2015|work=Fox News Channel|agency=Reuters|date=December 30, 2005}}</ref> in late 2005, Wendy's announced it would sell between 15% and 18% of the Tim Hortons operations in an initial public offering, which was completed on March 24, 2006, and subsequently said it would spin-off to shareholders its remaining interest by the end of 2006.<ref name="ipo1">{{cite news | title = Wendy's to spin off all of Tim Hortons by end of 2006 | date = March 3, 2006 | url = https://www.cbc.ca/news/business/wendy-s-to-spin-off-all-of-tim-hortons-by-end-of-2006-1.606946 | archive-url = https://web.archive.org/web/20110316150725/http://www.cbc.ca/news/story/2006/03/03/wendys-060303.html | url-status = live | archive-date = March 16, 2011 | publisher=[[CBC News]]}}</ref> Wendy's cited increased competition between the two chains and Tim Hortons' increasing self-sufficiency as reasons for its decision, but the company had been under shareholder pressure to make such a move because of the strength and profitability of the Tim Hortons brand.<ref name="ipo2">{{Cite press release | title = Wendy's International, Inc. Announces Comprehensive Strategic Initiatives to Enhance Shareholder Value | date = July 29, 2005 | url = http://www.timhortons.com/ca/en/about/news_archive_2005g.html | publisher=Tim Hortons}}</ref>

Shares of the company began trading on March 24, 2006, with an initial public offering of {{CAD|27}} per share, raising over $700&nbsp;million in the first day of trading. On September 24, Wendy's spun off the rest of its shares in Tim Hortons by distributing the remaining 82% to its shareholders.<ref>''Toronto Star'', September 29, 2007.</ref> On the same day, Tim Hortons was added to Canada's benchmark stock-market indicator, the [[S&P/TSX Composite Index]], and to the [[S&P/TSX 60]].<ref>{{cite web|url=https://www.thestar.com/NASApp/cs/ContentServer?pagename=thestar/Layout/Article_Type1&c=Article&cid=1159353728514&call_pageid=968350072197&col=969048863851 |archive-url=https://web.archive.org/web/20061111063723/http://www.thestar.com/NASApp/cs/ContentServer?pagename=thestar%2FLayout%2FArticle_Type1&c=Article&cid=1159353728514&call_pageid=968350072197&col=969048863851 |url-status=dead |archive-date=November 11, 2006 |title=TheStar.com – Tim Hortons joins S&P/TSX index roster |website = [[Toronto Star]]|date=November 11, 2006 }}</ref>

As of March 2006, Tim Hortons commanded 76% of the Canadian market for baked goods (based on the number of customers served) and held 62% of the Canadian coffee market (compared to [[Starbucks]], in the number two position, at 7%).<ref name="blo">{{cite news | title = Tim Hortons Raises {{CAD|783&nbsp;Million}} in Initial Offering | publisher = Bloomberg | date = March 23, 2006 | url = http://quote.bloomberg.com/apps/news?pid=10000103&sid=aVbau_WUTixk&refer=news_index | first1 = Josh | last1 = Fineman | first2 = David | last2 = Scanlan | url-status = dead | archive-url = https://web.archive.org/web/20070930070258/http://quote.bloomberg.com/apps/news?pid=10000103&sid=aVbau_WUTixk&refer=news_index | archive-date = September 30, 2007 | df = mdy-all }}</ref>

===2007–2013: Repatriation===
On June 29, 2009, Tim Hortons Inc. announced that, pending shareholder approval, the chain's operations would be reorganized under a new publicly traded company, also named "Tim Hortons Incorporated", incorporated under the ''[[Canada Business Corporations Act]]''. The change was being made primarily for tax purposes.<ref>{{Cite press release | title = Registration statement filed for proposed reorganization of Tim Hortons as a Canadian public company | publisher = Tim Hortons | date = June 29, 2009 | url = http://www.timhortons.com/ca/en/about/news.html?c=195616&p=irol-news&nyo=0 | url-status = dead | archive-url = https://web.archive.org/web/20090812054548/http://www.timhortons.com/ca/en/about/news.html?c=195616&p=irol-news&nyo=0 | archive-date = August 12, 2009 | df = mdy-all }}</ref><ref>{{cite news | url = https://www.thestar.com/business/article/658823 | title = Tim Hortons returns officially to Canada | date = June 30, 2009 | first = David | last = Friend |work=Toronto Star }}</ref> On September 28, 2009, Tim Hortons Inc. announced it had completed the reorganization of its corporate structure to become a Canadian public company.<ref>{{Cite news |title=Tim Hortons Inc. Completes Public Company Merger and Reorganization |url=http://www.newswire.ca/en/releases/archive/September2009/28/c9433.html |url-status=dead |archive-url=https://web.archive.org/web/20091001165026/http://www.newswire.ca/en/releases/archive/September2009/28/c9433.html |archive-date=2009-10-01}}</ref><ref>{{cite news |last=Campion-Smith |first=Bruce |date=September 24, 2009 |title=Doughnuts over diplomacy |work=[[Toronto Star]] |location=Toronto |url=https://www.thestar.com/news/canada/article/700134 |url-status=deviated |archive-url=https://web.archive.org/web/20091126032518/https://www.thestar.com/news/canada/article/700134 |archive-date=2009-11-26}}</ref>

In November 2010, Tim Hortons extended [[Interac]] debit payment system acceptance to most of its stores. The company previously began accepting Interac in its stores in Western Canada in 2003 and, later, [[Mastercard|MasterCard]] and MasterCard PayPass across most of its stores in 2007. The company often indicated the delay of broader or wider electronic payment acceptance was to "ensure speed of service."<ref>{{Cite press release |url=http://www.newswire.ca/en/releases/archive/November2010/23/c6803.html |title=Tim Hortons now offers Interac debit system across Canada |publisher=Tim Hortons |agency=CNW Group |access-date=November 26, 2010|date=November 23, 2010}}</ref><ref>{{cite news |date=June 29, 2007 |title=Tim Hortons to introduce MasterCard payment in Canada |url=http://www.timhortons.com/ca/en/about/news_archive_2007f.html |url-status=dead |access-date=December 13, 2010 |publisher=Tim Hortons |archive-date=February 21, 2014 |archive-url=https://web.archive.org/web/20140221040846/http://www.timhortons.com/ca/en/about/news_archive_2007f.html }}</ref> In 2012, Tim Hortons began accepting [[Visa Inc.|Visa]] cards, and in 2013, began accepting [[American Express]] cards.<ref>{{cite web|title=Now Serving...VISA at Tim Hortons |url=https://www.timhortons.com/ca/en/corporate/news-release.php?id=8208|website=Tim Hortons|access-date=August 24, 2017|date=May 15, 2012 }}</ref><ref>{{cite web|title=Ordering Your Morning Double-Double Just Got More Rewarding: American Express Serves up New Relationship with Tim Hortons |url=https://www.timhortons.com/ca/en/corporate/news-release.php?id=8165|website=Tim Hortons|access-date=August 24, 2017|date=July 8, 2013}}</ref>

In late 2013, Tim Hortons had "4,350 cafes across the world, out of which 3,500 are in Canada, 817 in the U.S. and 33 in the [[Gulf Cooperation Council|GCC]]. The Toronto Stock Exchange listed company recorded revenues of $794 million and net profit of $111 million in the September quarter."<ref name=DNAIndiaHortonts/>

===2014: Merger with Burger King===
On August 24, 2014, American fast-food chain [[Burger King]] announced that it was in negotiations to merge with Tim Hortons Inc;<ref name=gandm-bktimmies>{{cite news|title=Burger King in talks to acquire Tim Hortons|url=https://www.theglobeandmail.com/report-on-business/burger-king-in-talks-to-acquire-tim-hortons-report/article20187310/|website=The Globe and Mail|date=August 24, 2014|access-date=August 25, 2014|last1=Atkins|first1=Eric}}</ref> the proposed $18 billion mergers would involve a tax inversion into Canada, with a new holding company majority-owned by [[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.<ref name="The Wall Street Journal-bktimmies">{{cite news|title=Burger King in Talks to Buy Tim Hortons in Canada Tax Deal|url=https://online.wsj.com/articles/burger-king-in-talks-to-buy-tim-hortons-1408924294|access-date=August 25, 2014|work=The Wall Street Journal|author-first1=Liz|author-last1=Hoffman|author-first2=Dana|author-last2=Mattioli|date=25 August 2014}}</ref> News of the proposal caused Tim Hortons' shares to increase in value by 28 percent.<ref name=cbc-acquireconfirmed/>

On August 25, 2014, Burger King officially confirmed its intent to acquire Tim Hortons Inc. in a deal totaling {{CAD|12.5 billion}} (US$11.4 billion).<ref name=nyt-BurgerKing>{{cite news|title=Burger King to Buy Tim Hortons for $11.4 Billion| url=https://dealbook.nytimes.com/2014/08/26/burger-king-to-buy-tim-hortons-for-11-4-billion/|date=August 26, 2014|first=Michael|last=De La Merced|access-date=August 26, 2014|work=The New York Times |location=United States }}</ref> 3G Capital offered to purchase the company at $65.50 per share, with existing shareholders receiving $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 were also made available. The agreement planned to result in 3G Capital (which held a 71% majority stake in Burger King) holding a 51% majority stake in the new company, Tim Hortons' existing shareholders owning 22%, and Burger King's owning 27% with the new entity based in Oakville and listed on both the [[Toronto Stock Exchange|TSX]] and [[New York Stock Exchange]]. Per the agreement, Burger King CEO [[Daniel Schwartz]] became CEO of the company, with existing Tim Hortons CEO Marc Caira becoming vice-chairman and director; Burger King still operated out of its existing headquarters in Miami. It was announced the deal would form the third-largest fast-food restaurant company in the world.<ref name=cbc-acquireconfirmed/> On October 28, 2014, the deal was approved by the [[Competition Bureau]] of Canada,<ref>{{cite web|last1=Sturgeon|first1=Jamie|title=Ottawa gives Burger King go-ahead for Tim Hortons takeover|url=http://globalnews.ca/news/1708998/ottawa-gives-burger-king-go-ahead-for-tim-hortons-takeover/|website=globalnews.ca|publisher=Global News|access-date=December 23, 2014}}</ref> but had yet to be approved by [[Industry Canada]]. The Bureau ruled that the deal was "unlikely to result in a substantial lessening or prevention of competition."<ref name=cbcn-approvedcb>{{cite web|title=Tim Hortons, Burger King deal OK'd by Competition Bureau|url=http://www.cbc.ca/news/business/tim-hortons-burger-king-deal-ok-d-by-competition-bureau-1.2815809|publisher=CBC News|access-date=December 10, 2014}}</ref>

Former CEO Marc 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."<ref name=cbc-acquireconfirmed>{{cite news|title=Tim Hortons, Burger King agree to merger deal|url=http://www.cbc.ca/news/business/tim-hortons-burger-king-agree-to-merger-deal-1.2746948|access-date=August 26, 2014|publisher=CBC News|date=August 26, 2014}}</ref><ref name=gandm-bkth>{{cite news|title=Burger King, Tim Hortons ink merger deal for $12.5-billion|url=https://www.theglobeandmail.com/report-on-business/burger-king-tim-hortons-ink-merger-deal-for-125-billion/article20203522/|website=The Globe and Mail|date=August 26, 2014|access-date=August 26, 2014|last1=Atkins|first1=Eric}}</ref> On October 30, 2014, various media covered a [[Canadian Centre for Policy Alternatives]] study which suggested that Burger King's proposed takeover of Tim Hortons is "likely to have overwhelmingly negative consequences for Canadians."<ref name="Bad For Canada">{{cite web|author1=CBC Radio – Metro Morning|title=Bad For Canada?|url=http://www.cbc.ca/metromorning/episodes/2014/10/30/bad-for-canada/|publisher=CBC Radio – Metro Morning|access-date=November 9, 2014|date=October 30, 2014}}</ref><ref>{{cite web|last1=Friend|first1=David|title=Tim Hortons-Burger King Deal Could Lead To Layoffs, Cost Cutting: Analysis|url=http://www.huffingtonpost.ca/2014/10/30/tim-hortons-burger-king-3g-capital_n_6073036.html|publisher=[[The Canadian Press]], [[Huffington Post]]|access-date=November 9, 2014|date=October 30, 2014|archive-date=November 2, 2014|archive-url=https://web.archive.org/web/20141102051541/http://www.huffingtonpost.ca/2014/10/30/tim-hortons-burger-king-3g-capital_n_6073036.html|url-status=dead}}</ref> This study analyzed Burger King's private equity owner, 3G Capital, and past takeovers of Burger King, [[Heinz]], and [[Anheuser-Busch]], and declared that "it has a 30-year history of aggressive cost cutting, which could hurt Tim Hortons employees, small-businesspeople, Canadian taxpayers, and consumers."<ref name="Bad For Canada"/><ref>{{cite web|last1=Luckhardt|first1=Natasha|title=Trouble Brewing: Why the Tim Hortons Takeover is a Bad Deal for Canadians|url=https://www.policyalternatives.ca/publications/reports/trouble-brewing|publisher=[[Canadian Centre for Policy Alternatives]]|date=October 30, 2014}}</ref>

The deal was approved by Minister of Industry [[James Moore (Canadian politician)|James Moore]] (of the governing [[Conservative Party of Canada]]) on December 4, 2014: The two companies agreed to Moore's conditions, requiring that the Burger King and Tim Hortons chains retain separate operations and not combine locations, maintain "significant employment levels" at the Oakville headquarters, and ensure that Canadians make up at least 50% of Tim Hortons' board of directors.<ref name=fp-ottawaapproved>{{cite news|title=Burger King promises to ramp up Tim Hortons' U.S. expansion as Ottawa approves takeover|url=http://business.financialpost.com/2014/12/04/tim-hortons-burger-king-industry-canada/|access-date=December 10, 2014|work=Financial Post}}</ref> Tim Hortons shareholders approved the merger on December 9, 2014; the two chains merged under the new parent company [[Restaurant Brands International]] (RBI), which began trading on December 15, 2014.<ref name=fp-bkmergeapproved>{{cite news|title=Tim Hortons enters 'next chapter' as shareholders approve Burger King's $12.5 billion takeover|url=http://business.financialpost.com/2014/12/09/tim-hortons-burger-king-takeover-approved/|website=Financial Post|date=December 9, 2014|access-date=December 10, 2014|last1=Shaw|first1=Hollie}}</ref><ref name=cp-rbidate>{{cite news|title=Tim Hortons, Burger King finalize merger to form Restaurant Brands International|url=https://edmontonjournal.com/business/Hortons+Burger+King+finalize+merger+form+Restaurant+Brands/10463882/story.html|agency=The Canadian Press|access-date=December 13, 2014|url-status=dead|archive-url=https://web.archive.org/web/20141216145611/http://www.edmontonjournal.com/business/Hortons+Burger+King+finalize+merger+form+Restaurant+Brands/10463882/story.html|archive-date=December 16, 2014|df=mdy-all}}</ref><ref>{{cite web|last1=Sturgeon|first1=Jamie|title=Burger King gets go-ahead to gobble up Tim Hortons|url=http://globalnews.ca/news/1640115/burger-king-gets-go-ahead-to-gobble-up-tim-hortons/|website=globalnews.ca|publisher=Global News|access-date=December 23, 2014}}</ref> According to CBC News, "how the government will enforce [Moore's] conditions is unclear."<ref>{{cite news|last1=Everson|first1=Kristen|title=Tim Hortons takeover conditions demanded by public, James Moore says|url=http://www.cbc.ca/news/politics/tim-hortons-takeover-conditions-demanded-by-public-james-moore-says-1.2862662|publisher=CBC News|date=December 6, 2014}}</ref>

=== 2015–present ===
[[File:TSXExchangetower.jpg|thumb|[[Exchange Tower]] houses the headquarters for Tim Hortons, and its parent company, [[Restaurant Brands International|RBI]], since 2018.]]
In May 2015, the company announced the closure of its U.S. headquarters in [[Dublin, Ohio]]; in March 2015, it had 127 employees. In August 2016, Tim Hortons again changed presidents.<ref name=ChangesPresidentsFPost>{{cite news|url=http://business.financialpost.com/news/retail-marketing/tim-hortons-canada-changes-president-for-second-time-since-2014-merger |title=Tim Hortons Canada changes president for second time since 2014 merger |newspaper=Financial Post |date=August 24, 2016 |access-date=September 20, 2016 |url-status=live |archive-url=https://web.archive.org/web/20160825185750/http://business.financialpost.com/news/retail-marketing/tim-hortons-canada-changes-president-for-second-time-since-2014-merger |archive-date=August 25, 2016 |df=mdy }}</ref> In September 2016, Tim Hortons announced it would be expanding into the United Kingdom, with an unannounced number of locations to be built.<ref name=BLoombergExpand>{{cite news|url=https://www.bloomberg.com/news/articles/2016-08-31/tim-hortons-coffee-coming-to-u-k-amid-global-expansion-push |title=Tim Hortons Coffee Coming to U.K. Amid Global Expansion Push |website=[[Bloomberg News]] |date=August 31, 2016 |access-date=September 20, 2016 |url-status=live |archive-url=https://web.archive.org/web/20160923175953/http://www.bloomberg.com/news/articles/2016-08-31/tim-hortons-coffee-coming-to-u-k-amid-global-expansion-push |archive-date=September 23, 2016 |df=mdy }}</ref>
 
Revenue in 2015 for [[Restaurant Brands International]] was US$4.0522&nbsp;billion<ref name=annualreport>{{cite web |title=2015 Annual Report |url=http://investor.rbi.com/~/media/Files/B/BurgerKing-IR/documents/10-k-feb-26-2016.pdf |publisher=Restaurant Brands International |access-date=December 31, 2015 |archive-date=October 29, 2019 |archive-url=https://web.archive.org/web/20191029113005/http://www.investor.rbi.com/~/media/Files/B/BurgerKing-IR/documents/10-k-feb-26-2016.pdf |url-status=dead }}</ref> with a rise to $4.15&nbsp;billion in 2016.<ref>{{cite web|url=http://www.ctvnews.ca/business/tim-hortons-owner-sees-big-jump-in-profit-in-2016-revenue-edges-up-1.3282732|title=Tim Hortons owner sees big jump in profit in 2016, revenue edges up|date=February 13, 2017}}</ref> Tim Hortons had 683 U.S. locations by the end of 2016, and total annual revenue of US$3.00 billion.<ref name=star-income>{{Cite news|url=https://www.thestar.com/business/2017/02/13/tim-hortons-burger-king-see-big-jump-in-profit-in-2016.html|title=Tim Hortons owner eyes rapid expansion in U.S. despite uncertainty around Trump &#124; The Star|newspaper=The Toronto Star|date=February 13, 2017}}</ref>

In April 2018, Tim Hortons announced that they would be moving their head office along with its 400 employees to the [[Exchange Tower]] in downtown Toronto.<ref>{{cite news|url=https://www.thestar.com/business/real_estate/2018/04/17/tim-hortons-to-move-its-canadian-head-office.html|title=Tim Hortons to move its Canadian head office|last=Kalinowski|first=Tess|date=April 17, 2018|work=[[Toronto Star|The Star]] |access-date=April 17, 2018}}</ref>

In May 2018, the [[Cees van Riel#Reputation Institute|Reputation Institute]] reported that Tim Hortons had fallen from 13th to 67th in its study of Canada's most reputable companies, as "one of the largest moves down of all 250 companies it analyzed this year'" and that the brand was "still considered to have a 'strong reputation.'"<ref>{{cite news |title=Tim Hortons falls from 13th to 67th in ranking of Canada's most reputable companies |url=https://www.thestar.com/business/2018/05/23/tim-hortons-falls-from-13th-to-67th-in-ranking-of-canadas-most-reputable-companies.html |work=[[Toronto Star|The Star]] |access-date=30 March 2019 }}</ref>

In October 2018, Tim Hortons began to install self-serve kiosks at some locations in Ontario.<ref name="toronto.ctvnews.ca">{{Cite web|url=https://toronto.ctvnews.ca/tim-hortons-sales-grow-in-canada-as-franchisee-relationship-on-the-mend-1.4147748|title=Tim Hortons sales grow in Canada as franchisee relationship on the mend {{!}} CTV News Toronto|website=toronto.ctvnews.ca|date=October 24, 2018|access-date=2019-03-13}}</ref> In February 2019, Tim Hortons began to spread the installation of the self-serve kiosks across Canada.