tim hortons opened in the usa in 1967.
tim hortons opened in the usa in 1967.
when did tim hortons open in the usa?
1967
initially, the us stores were the result of natural expansion in canada–u.s. border areas (e.g., stores in maine and the buffalo, new york, area where horton played from 1972 to 1974 as a member of the buffalo sabres). the first united states locations were opened in deerfield beach, florida, and pompano beach, florida, in 1981, but they proved unsuccessful and were closed. in 1985, the chain returned to the us with a location on niagara falls boulevard in the buffalo suburb of tonawanda, new york. starting in the mid-1990s, however, the chain began expanding in the us by acquiring former locations from fast food chains. in 1996 and 1997, thirty-seven former rax restaurants locations in ohio, kentucky, and west virginia were bought by wendy's international inc.; 30 of these were converted to tim hortons, while the others became wendy's franchise locations. thirty-five closed hardee's stores in the detroit area were also purchased with the intention of being converted. by 2004, the chain had also acquired 42 bess eaton coffee and doughnut restaurants situated in southern new england. several combination wendy's/tim hortons units were opened in the us; both in the "traditional" markets of maine and buffalo, where there were well over 180 locations as of 2011, and in the markets entered through acquisition.
tim hortons
in august 2014, burger king announced its intent to acquire the canadian restaurant and coffee shop chain tim hortons. 3g capital purchased tim hortons at $65.50 per-share, and a new holding company was formed, based in oakville, ontario, canada. 3g holds a 51% majority stake, tim hortons' existing shareholders owning 22%, and a 27% stake held by burger king shareholders. berkshire hathaway partially funded the purchase by buying $3 billion worth of preferred shares. burger king ceo daniel schwartz became ceo of the company, with existing tim hortons ceo marc caira becoming vice-chairman and director. the two chains retained separate operations post-merger, with burger king remaining in its miami headquarters. the deal was subject to approval by tim hortons shareholders and canadian regulatory authorities. a tim hortons representative stated that the proposed merger would allow tim hortons to leverage burger king's resources for international growth. the combined company became the third-largest international chain of fast food restaurants. from 1995 to 2005, tim hortons had been owned by wendy's restaurants, a competitor to burger king.
history of burger king