Burger King promises to ramp up Tim Hortons’ U.S. expansion as Industry Canada approves takeover

Financial Post | Business

TORONTO • The marriage of the Whopper and the Timbit moved one step closer to reality on Thursday with Industry Canada’s approval of Burger King Worldwide Inc.’s $12.5-billion deal to buy Tim Hortons Inc.

It will be a corporate union only — stipulations about maintaining the coffee and doughnut chain’s Canadian identity ring loud and clear through Industry Minister James Moore’s statement announcing the government’s assent to Burger King’s application under the Investment Canada Act. The two also won’t get to share their brands at any locations in Canada or the U.S. in order “to manage Tim Hortons as a distinct brand.”

Burger King made several promises to the government in order to secure the deal, including promising to keep “100 per cent of existing employment levels” at Tim Hortons franchises across Canada; to keep a joint headquarters for the newly merged Tim Hortons and Burger King in the former’s…

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