Restaurant Brands International

Restaurant Brands International Inc. (RBI) is a Canadian-American multinational fast food holding company. It was formed in 2014 by the $12.5 billion merger between American fast food restaurant chain Burger King and Canadian coffee shop and restaurant chain Tim Hortons, and expanded by the 2017 purchase of American fast-food chain Popeyes. The company is the fifth-largest operator of fast food restaurants in the world behind Subway, McDonald's, Starbucks and Yum! Brands. They are based alongside Tim Hortons in Toronto (previously Oakville, Ontario). For tax purposes, Burger King and Popeyes retain their existing operations and headquarters, both in Miami. The 2014 merger focused primarily on expanding the international reach of the Tim Hortons brand and providing financial efficiencies for both companies. 3G Restaurant Brands Holdings LP, an affiliate of the Brazilian investment company 3G Capital, owns a 32% stake in Restaurant Brands International. The company is publicly traded on the New York Stock Exchange and the Toronto Stock Exchange. In March 2023, Joshua Kobza was named the CEO of Restaurant Brands International, replacing Jose Cil, who had held the role since 2019. History On August 24, 2014, American fast-food chain Burger King announced that it was in negotiations to merge with the Canadian coffee shop and restaurant chain Tim Hortons. The proposed merger would involve a tax inversion into Canada, with a new holding company majority-owned by Burger King's current majority-owner, 3G Capital, and the remaining shares in the company held by current Burger King and Tim Hortons shareholders. A Tim Hortons representative stated that the proposed merger would allow Tim Hortons to leverage Burger King's resources for international growth; the two chains would retain separate operations post-merger. News of the proposal caused Tim Hortons' shares to increase in value by 28 percent.