MIAMI (AP) – Burger King is in talks to buy Tim Hortons and form a new publicly listed company based in Canada.
The two fast-food companies announced Sunday that Burger King majority owner 3G Capital would continue to own the majority of shares of the new company, with the remainder held by shareholders of Tim Hortons and Burger King.
The companies say Miami-based Burger King Worldwide Inc. and Ontario-based Tim Hortons Inc. would continue to operate as separate 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 with about $22 billion in sales. The companies say that would make it the world’s third-largest fast-food restaurant company.