Burger King is thinking about heading for the True North.
The two fast-food companies said that Burger King majority owner 3G Capital would continue to own the majority of shares of the new company, with the remainder held by existing shareholders of Tim Hortons and Burger King.
The companies’ statement says Miami-based Burger King Worldwide Inc. and Ontario-based Tim Hortons Inc. would continue to operate as standalone brands but would share corporate services.
The Wall Street Journal first reported the talks and that the companies say there’s no assurance a deal will happen.
The new company would have 18,000 restaurants in 100 countries worldwide. The companies say that would make it the world’s third-largest fast-food restaurant company.
The reason for the BK move is to make it a Canadian-based company and do the tax-inversion shuffle. But I wonder if that means that there will be Tim Hortons here in South Florida. I’m always ready for a box of Timbits.