TORONTO – A quick look at the Tim Hortons, Burger King deal
Tim Hortons: 1964 in Hamilton, Ont.
Burger King: 1954 in Miami, Fla.
Number of franchises:
Tim Hortons: 4,564 locations worldwide
Burger King: About 14,000 locations
Number of countries:
Tim Hortons: Canada, U.S., and Gulf Co-operation Council.
Burger King: 98 countries and territories
Combined total sales: $23 billion
Number of Tim Hortons coffees served: Approximately two billion cups worldwide in 2013
Number of Whoppers Burger King sells: Approximately 1.7 billion each year in the U.S. alone
Value of deal:
Tim Hortons shareholders can receive $65.50 in cash and 0.8025 of a common share of the new company for each one of their shares or an all-cash payment of $88.50 or 3.0879 shares in the new company.
Burger King shareholders will have their shares converted into 0.99 of a share in the new company and 0.01 of a unit of an Ontario limited partnership that will be owned by the parent company.
Brazilian private equity group 3G Capital Inc. will own about 51 per cent of the new company. It currently owns more than 70 per cent of Burger King.