![]() ![]() The first Tim Horton restaurant was in North Bay, Ontario, and sold hamburgers. 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. Photo is of the original building before it was renovated in 2014. History 1964–1989: Tim Horton and Ron Joyce Photo of first Tim Hortons donut store in Hamilton, Ontario. The two chains became subsidiaries of Toronto-based holding company Restaurant Brands International, which is majority-owned by Brazilian investment firm 3G Capital, on December 15, 2014. On August 26, 2014, Burger King agreed to merge with Tim Hortons for US$11.4 billion. Charade left the organization in 1966 and briefly returned in 19 through 1996. Joyce expanded the chain into a multi-billion dollar franchise. In 1967, Horton partnered with investor Ron Joyce, who assumed control over operations after Horton died in 1974. The company was founded in 1964 in Hamilton, Ontario by Canadian hockey player Tim Horton (1930–1974) and Jim Charade (1934–2009), after an initial venture in hamburger restaurants. It is Canada's largest quick-service restaurant chain, with 5,352 restaurants in 15 countries, as of June 30, 2022. Based in Toronto, it serves coffee, donuts, sandwiches, and other fast-food items. Tim Hortons Inc., commonly nicknamed Tim's, Timmie's or Hortons, is a Canadian multinational coffeehouse and restaurant chain. Total group sales reached $11.2bn.Restaurant Brands International (2014–present) ![]() The restaurant group operates a total of 30,375 stores across its four brands, with fast-food chain Burger King its largest contributor during the period with $7.06bn sales. RBI reported third quarter system-wide sales growth of 10%, 16% and 7% for Burger King, Popeyes and Firehouse Subs respectively. I am confident we are well positioned to enter 2024 with momentum,” said Josh Kobza, CEO, RBI. “These results reflect our focus on enhancing operations, delivering great guest and team member experiences, and providing great value with the best quality products in each of our brands' respective categories. Between 20-25 new stores are expected to open annually in the UK from next year. The coffee chain is seeking to reach 500 stores across the Middle East by 2025.Īdditionally, Tim Hortons is poised for outlet growth in the UK, where it currently operates 75 stores, following the launch of a new franchise model. Tim Hortons surpassed 300 stores across the Middle East and India in September 2023, in partnership with its Dubai-based franchisee AG Café. The coffee chain closed net four sites in Canada, where it now operates 3,874 stores, but achieved 21% outlet growth across its international markets during the quarter to reach 1,827. However, the restaurant group oversaw a seventh consecutive quarter of negative domestic outlet growth for Tim Hortons, which has not increased its store count in Canada since the third quarter of 2021. RBI opened 39 net new Tim Hortons stores during the quarter to reach 5,701 outlets globally – 5% higher than the same period last year. Tim Hortons’ Adjusted EBITDA for the period was $311m, representing 44% of RBI’s total $698 earnings. System-wide-sales for the coffee chain in Canada, where 68% of its stores are located, increased 8.5% year-on-year to $1.7bn, while sales across international Tim Hortons stores grew 16% to $351m. RBI, which also operates the Burger King, Popeyes and Firehouse Subs fast-food restaurant chains, said Tim Hortons achieved 10% year-on-year sales growth to reach $2.09bn during the three months ended 30 September 2023. Tim Hortons remains a key performer for parent company Restaurant Brands International (RBI), following strong third quarter sales and outlet growth in its 15 international markets. RBI opened 39 net new Tim Hortons stores during the quarter to reach 5,701 outlets globally | Photo credit: Tim Hortons The Ontario-based coffee chain surpassed 5,700 stores during the period following robust outlet growth internationally, but posted a seventh consecutive quarter of store closures in CanadaĪ Tim Hortons drive-thru outlet in the UK. ![]()
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