full post after cut.........
TORONTO • Don’t be alarmed, Canada — Burger King CEO Daniel Schwartz, who hopes to be crowned monarch of Tim Hortons as well, wants you to know he’s one of us.
Following the announcement that Burger King Worldwide Inc. had reached an agreement Tuesday to buy Tim Hortons International Inc. for $12.5-billion, the CEOs of both chains and Alex Behring, managing director of 3G Capital — the Brazilian private equity firm poised to hold a majority stake in the combined company — spent the day offering reassuring statements.Burger King said Canada is where it will have 80% of its outlets once the deal to add Tim Hortons (THI) is complete. Overall, it expects about two-thirds of its revenue to come from Canada, one-fifth from the United States and the rest from overseas locations.
The Burger King stores will continue to be run out of the current headquarters in Miami, while Tim Hortons stores will continue to be run out of Canada.
No comments:
Post a Comment